§ Mr. Concannonasked the Secretary of State for Industry how much money the Government have put into the Lazard scheme for the rationalisation of the steel foundry industry; and how much of this finance is going towards enhanced redundancy payments for the redundant workers.
§ Mr. ButcherThe Government have made a grant of £795,145 towards compensation payments to be made to companies closing under the high alloy (static) scheme. The proportion to be spent on redundancy payments is a matter for the individual companies.
§ Mr. Haynesasked the Secretary of State for Industry what consultation took place with the appropriate trade union with regard to the implementation of the Lazard agreement for the steel foundry industry; and what is the purpose of the agreement.
§ Mr. ButcherThe steel castings industry reconstruction agreement is intended to promote voluntary rationalisation by means of self-help levy schemes. Participants remaining in business in each sector pay a levy in order to fund compensation payments to companies who volunteer to close. I understand that trade union representatives have been kept informed of developments by Lazards and that companies concerned in individual schemes will consult employees and trade unions about detailed closure arrangements.