Welsh Affairs

Part of the debate – in the House of Commons at 9:33 pm on 4 February 1980.

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Photo of Mr Wyn Roberts Mr Wyn Roberts , Conway 9:33, 4 February 1980

No, I will not give way. The right hon. Gentleman spoke at considerable length—rather more than he has allowed me time for—and I have noticed in these debates that he has the habit of intervening in my speeches. I hope that he will remain verbally continent for a few minutes.

The main theme of the debate has been economic, with special reference to the steel and coal industries. Although I hope to deal with other topics raised by hon. Members, I must first comment on steel and coal.

I do not think that there is anyone who would not rather have a profitable steel industry than a non-profitable one. All right. We agree on that. The same is true of coal and other productive industries. We recognise that profit—or surplus, as the Opposition may prefer to call it—is essential to prosperity, and we recognise all that that means in terms of secure employment, better social services and so on. We know also the consequences of failure to achieve that surplus. Losses have to be paid for somehow or other, and when they are recurrent and extensive the country's economy slips into decline and our standard of living is adversely affected. So there is no difference between us on our hopes for the steel industry.

On 22 May 1978, the right hon. Member for Chesterfield (Mr. Varley) said in the House that the financial objectives of the BSC should be to break even by the financial year 1979–80. I emphasise to the hon. Member for Gower (Mr. Davies) that that objective was set by his own Government, and for this year.