Is the Minister aware that he has been misleading the House about this—[Interruption.]—that there have, in fact, been loans of only £50 million and £27 million issued to private steel companies since nationalisation? Why does the right hon. Gentleman keep on repeating the figure of £400 million? Will he now admit that this is a misleading figure, and will he withdraw it from further utterances in the House?
What has that got to do with it? Hon. Gentlemen opposite must face the fact that we could not have got the necessary capacity in steel had we asked private industry to do it. Indeed, they refused point blank and the only way we managed to get it was by this huge injection of public money into the industry.