§ 38. Mr. Wadsworthasked the Minister of Supply what is the amount of subsidies for which the iron and steel trade have had the benefit in 1945, 1946 and 1947.
§ Mr. G. R. StraussFigures are not available for 1945. During the year ended 31st March, 1947, the total Government expenditure on subsidies for iron and steel was about £11,250,000 and during the following year about £11,500,000. The difference between the cost of imported pig iron and steel and the controlled price in this country accounted for £3,800,000 and £3,600,000, respectively, of these payments.
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§ 41. Mr. Elwyn Jonesasked the Minister of Supply if he will name the iron and steel companies which have received subsidies during the last three years; what was the amount paid to each company; and what conditions attached to the granting of the subsidies.
§ Mr. G. R. StraussParticulars of the exact amounts paid to individual firms are not immediately available. I am having the information collected and will send it to my hon. Friend as soon as possible. Payments were made to companies required to undertake uneconomical production to meet the need for maximum output. The conditions under which payments are made vary with individual companies, but in every case care is taken to ensure that only a reasonable rate of profit is made.