§ Mrs. Faithasked the Secretary of State for Industry when he expects the Council of Ministers to approve funding for social measures for early retirement in the steel industry; and to what extent the United Kingdom may be expected to benefit from such an agreement.
§ Mr. Michael MarshallAt its meeting on 24 June the Council of Ministers agreed that ECSC aid should be given towards the cost of early retirement and of short-term working directly linked with restructuring. It took note of a political undertaking by member States to contribute, subject to national parliamentary procedures, an initial 50 million ECUs towards the financing of this aid. The Government expect the United Kingdom to derive a net financial benefit as a result of this agreement but the exact amount cannot yet be determined.