§ Mr. G. R. Straussasked the Chancellor of the Exchequer what approximate proportion of the iron and steel industry, previously owned by the Iron and Steel Corporation, remains in the possession of the Iron and Steel Holding and Realisation Agency, based on the total output of the industry, and what proportion based on the compensation sums originally paid.
§ Mr. H. MacmillanAbout one-quarter of the steel production of the companies owned by the Iron and Steel Corporation now remains with the Iron and Steel Holding and Realisation Agency.
The total amount of compensation stock originally issued was £245.8m. The Agency took over from the Corporation securities whose cost to the Corporation was £252.3m., and also certain loans and obligations, bringing the total of investments and obligations inherited to £364.2m. In addition, the Agency has made further investments bringing the cumulative total of investments and obligations of the Agency to £429.9m. 58W The net total of investments and obligations remaining with the Agency at 30th September, 956, was £226.4m. Further details will be available in the third Annual Report of the Agency shortly to be published. Since 30th September, 1956, proceeds from the disposal of six companies amount to £l.25m.