British Steel Corporation

HC Deb 03 July 1979 vol 969 cc536-7W

Mr. Wilkinson

asked the Secretary of State for Industry whether he will set a financial target for the British Steel Corporation.

Sir Keith Joseph

I have set the Corporation the target of operating at a profit in the 1980–81 financial year after providing for depreciation and interest. To reinforce this target, the cash limit for 1980–81 will be set at a level intended with internally generated funds to cover fixed investment and other essential capital

				Expenditure (£'000)
				(i) Northern Region	(ii) Great Britain	(i) as a percentage of (ii)
Regional development grants (*)	…	…	103.2	303.1	34.0
Regional selective assistance (†)	…	…	…	9.5	43.8	21.7
Selective financial assistance (‡)	…	…	…	2.5	50.9	4.9