§ Mr. Tebbitasked the Secretary of State for Industry which of his statutory powers to control mergers, investment and prices in the steel industry have been subject to veto by the EEC Commission.
§ Mr. MeacherAcquisitions by BSC require the consent of the Secretary of State, but are subject to authorisation by the Commission. In no instance has authorisation been withheld, but in one case the Commission imposed conditions on the proposed transaction. The Secretary of State has no statutory powers over mergers in the private sector, which are also subject to authorisation by the Commission.
The Commission has no power to prevent steel investment. The Secretary of State has no statutory powers over steel prices. Because of the provisions of the Treaty of Paris ECSC steel products are excluded from the Price Code.