§ Mr. Hooleyasked the Minister of Power if he has completed his consideration of the British Steel Corporation's proposals for a change in their capital structure.
§ Mr. MasonThe Government have agreed in principle, that a substantial proportion of the Corporation's long-term capital, which amounts to about £1,000 million, should be converted into public dividend capital as a further experiment with this type of capital. The Govern-342W ment's agreement is subject to Parliament's approving the necessary legislation and the details will be set out in a Bill which I hope to introduce in March.