§ Mr. Nicholas Wintertonasked the Secretary of State for Industry what is the present total of redundancy money paid out to employees of the British Steel Corporation; what is his estimate of the total that will be reached by 31 March 1981; and what are the criteria by which redundancy pay levels are fixed.
§ Mr. Michael MarshallDetails of redundancy payments, and of the criteria under which some of the payments are made, are matters for the corporation. A full description of the different payments available to redundant steel workers was given by my hon. Friend the290W Under-Secretary of State in a reply to my hon. Friend on 10 June 1980. The BSC annual accounts for the year ended 29 March 1980 contained a provision for £386 million for future redundancy and closure costs. It is expected that most of this provision will be expended by 31 March 1981.