Captain A. EVANSasked the President of the Board of Trade if his attention has been drawn to the promise given by the British Iron and Steel Company, Limited, that, provided the Government will give an assurance as to the continuity of the duties on imported steel, the company is prepared to expend a sum of £2,000,000 on reconstructing the Cardiff-Dowlais Steelworks, which would result in the employment of 1,500 steelworkers at the end of a two years' scheme of reconstruction and the production of 300,000 tons of billets and sheet bars per annum, and create more employment for miners, railwaymen, dock workers, and limestone quarries; and if the Government will give such an assurance as in the case of imported oil?
§ Mr. RUNCIMANMy attention has been called to the proposed scheme of reconstruction of tlhe Cardiff-Dowlais Steelworks, but I have not observed that the scheme has been stated to be dependent upon such a promise from the Government as that suggested by my hon. and gallant Friend. I need hardly say that the Government will watch the development of this scheme with sympa- 331W thetic interest. The policy of the Government with regard to the iron and steel industry was set out in the letter of 6th April from the Chancellor of the Exchequer which is included in the correspondence between the National Committee for the Iron and Steel Industry and the Import Duties Advisory Committee published in May last, and I cannot at the moment add anything to what is stated therein.