Financial Markets

I very much agree with bodies such as the Engineering Employers Federation that the Government have taken bold and decisive action in dealing not only with the financial system, but with industry and manufacturing industry in particular. I ask the Chancellor to keep a close eye on the need of some manufacturing sectors, particularly capital-intensive sectors such as steel, for funds to be available for essential investment. I listened carefully to my right hon. Friend's comments on the Icelandic situation—I very much support the steps that he is taking—but my own council, North Lincolnshire, is one of those affected. He will understand that there is great concern about the £5.5 million, which it cannot access.