§ Mr. Austin Mitchell
asked the Secretary of State for Industry what is his estimate of the loss in revenue, net of savings in expenditure, of the British Steel Corporation in the current financial year as a result of the steel strike.
§ Mr. Michael Marshall
In his statement of 27 June, the then chairman of BSC said that the corporation's loss of revenue in 1979–80 directly attributable to the steel strike would be over £160 million. The strike is bound to have damaged the British Steel Corporation's net revenue in the current financial year also, but the extent of the damage will depend on the corporation's success and speed in winning back business it has lost.