Clause 5. — (Subsidy in Respect of Imported Materials.)

Part of the debate – in the House of Commons at 12:00 am on 28 April 1949.

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Photo of Mr George Strauss Mr George Strauss , Lambeth North 12:00, 28 April 1949

Perhaps I may interrupt the noble Lord because he is completely misleading the House. It is quite impossible under Clause 5 for any subsidy to be paid in respect of any loss made by the Corporation. All it enables the Corporation to receive is a subsidy in respect of any steel or semi-finished steel which it has to import and sell to consumers in this country and which it has brought above the home price of steel. The Corporation cannot possibly recoup itself from the Treasury for any loss which it may make.