STATE OWNERSHIP

Greymouth Evening Star, 18 April 1946, Page 7

STATE OWNERSHIP

British Iron and Steel 'lndustry GOVERNMENT’S SCHEME OUTLINED (Recd 11.10 a.m.) LONDON, April 17. The Government had reached the conclusion that the position of the iron and steel industry and its importance to national economy necessitated a large measure of public ownership and that legisla ion for this purpose should be prepared, said the Minister of Supp y, r. John Wilmot, in the House of Commons to-day. He added that a control board would be established which would replace the existing Iron and Steel Control Board and which would pay special attention to evelopment schemes and (questions arising on matters of nationalisation. .. , “The Government,” he said, “is anxious to secure to the fulles extent the co-operation of the management and workers during the neriod which will be necessary for putting into effect the schemes of nublic ownership.” Immediate discussions would take place to ensuie that urgent modernisation and development schemes were carried through without delay. The new board would advise him on Questions ar sinl in the preparation of the scheme for nationalisation, including the definition of the sections of the industry to be taken into public oW De e a r i£g with plans for development which were being considered by the Government, Mr. Wilmot said a report prepared by the British Iron and Steel Federation set out plans for the development and modernisation of the industry over the next five to seven years at an estimated cost of £168,000,000. Reports had also been received liom the Jomt Iron Council dealing with the iron foundry side of the industry Ihe Government ” he said, “welcomes these reports as an important contribution to the planned development of this basic industry.