HC Deb 20 July 1981 vol 9 cc13-4W
26. Mr. Chapman

asked the Secretary of State for Industry if he will make a statement on progress of the British Steel Corporation since the appointment of Mr. Ian MacGregor as chairman, with particular reference to capital investment and operating losses during the past 12 months.

Mr. Tebbit

BSC has made considerable progress over the past 12 months in reducing excess capacity, improving productivity and working practices. These improvements have resulted in a significant reduction in BSC' s operating losses in recent months.

31. Mr. Moate

asked the Secretary of State for Industry what is the expected outturn level of Government support in the current financial year for the British Steel Corporation.

Mr. Michael Marshall

We expect that BSC will remain within its external financing limit for 1981–82 of £730 million announced on 24 February.

32. Mr. Homewood

asked the Secretary of State for Industry whether he is confident that the British Steel Corporation has sufficient capacity to satisfy increased demand should there be an upturn in economic activity.

Mr. Tebbit

Yes.

34. Mr. Peter Lloyd

asked the Secretary of State for Industry whether he is satisfied with the progress made by the chairman of the British Steel Corporation to bring the corporation closer to profitability.

Mr. Tebbit

Considerable progress has been made, but neither the Government nor Mr. MacGregor will be satisfied until the corporation has returned to profitability.