§ Sir C. Osborneasked the Chancellor of the Exchequer (1) what is the estimate cost of nationalising the steel industry; what type of stock he proposes to issue in payment; what will be the annual interest charge; what measures he proposes to take to ensure that the stock will be kept as a permanent investment; and if he will make a statement;
(2) in view of the facts that 2½ per cent. Treasury Stock issued in 1946 at 100 per cent, is now standing at the lowest ever price of 37 per cent., and that War Loan is down to the lowest price of 50½ per cent., what method he proposes to use to pay compensation for steel nationalisation without depressing the gilt-edged market and further weakening sterling; and if he will make a statement.
§ Mr. DiamondMy right hon. Friend has not statement to make on these matters in advance of the presentation of a Bill.