§ Mr. Biffen
asked the Secretary of State for Industry if he will make a statement on the prospects for output, investment and employment in the British Steel Corporation.503W
§ Mr. Kaufman
The Corporation's output, now some 350,000 tonnes per week of liquid steel, is likely to remain constrained by a low level of demand during 1976. The Corporation's investment programme is running at about £500 million this year and will reach new record levels in subsequent years. This will help provide security of employment for the great majority of those engaged in the industry. There is, however, a measure of overmanning and a need for cost savings which must successfully be dealt with by the management and the trade unions if the Corporation and its work force are to have an assured future.