§ 28. Mr. Laneasked the Secretary of State for Industry whether he will make a further statement on the progress of the steel industry's modernisation programme.
§ Mr. KaufmanAs I indicated to the hon. Member for Derbyshire, South-East (Mr. Rost) on 19th January, BSC estimates that it has spent over £500 million in the 1975–76 financial year on its capital investment programme, a record figure. Spending in 1976–77 is likely to be over £600 million. The Government intend the overall steel development programme to go forward, but flexibility will be needed to respond to changing needs and opportunities.