Orders of the Day — Steel Industry and Road Haulage

Part of the debate – in the House of Commons at 12:00 am on 12th November 1951.

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Photo of Mr William Robson-Brown Mr William Robson-Brown , Esher 12:00 am, 12th November 1951

The hon. Member is bringing up debating points, and he now raises the question of profits upon re-armament being made by the steel industry. Surely he knows perfectly well that any responsible over-riding authority of the steel industry would never allow the selling price to be fixed at a figure which would yield to the industry profits which were too high? [HON. MEMBERS: "Oh!"] If hon. Members believe that, then they will believe anything. My belief is that basic industries everywhere have a responsibility to the State with regard to profits and that applies to steel.