HC Deb 18 January 1978 vol 942 cc221-2W
Mr. Lomas

asked the Secretary of State for Trade if it is intended that further talks should take place on the question of the Common Fund.

Mr. Meacher

The Secretary-General of UNCTAD has been invited to undertake consultations with a view to an early resumption of negotiations. We and other developed countries have made clear our readiness to resume as soon as all concerned can agree to do so.

Mr. Lomas

asked the Secretary of State for Trade what is the policy of the Government concerning the financing of the Common Fund; and if he considers that it should be through direct Government contributions, rather than commodity agreements.

Mr. Meacher

As proposed by the developed countries collectively at the out unable to reach a mutually acceptable understanding with the USSR about its deliveries of steel to this country in 1978, it was necessary to impose import restrictions from the beginning of this year.

I would wish to consider any similar cases in the light of progress made following the decision on 19th December of the European Council of Ministers that discussions should be held with a number of supplying countries about the prices and quantities of their exports of steel to the Community in 1978.