§ 48. Mr. Hooleyasked the Minister of Power, what guarantees he has obtained that the publicly-owned assets of the British Steel Corporation valued at about £3,000,000, which have been used to form part of Sheffield Rolling Mills Limited, will not later be sold outright to private shareholders; and if he will make a statement.
§ Mr. FreesonThe Corporation have told my right hon. Friend that such a sale would be, quite inconsistent with the purpose of Sheffield Rolling Mills Ltd. He has agreed in principle to their participation in this company because he is satisfied that it will be in the interests of the economy generally and of the nationalised steel industry. Before giving his final consent my right hon. Friend will assure himself that there arc reasonable safeguards against the purposes of the agreement being frustrated.