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Regional Economy (Tackling the Recession)

I am happy to take that intervention, but I cannot announce to the Committee today, on behalf of the Government, that I will take the United Kingdom steel industry into public ownership. I know that that will come as a disappointment to my hon. Friend, but, although I push the powers and responsibilities given to me to the limit, I think that the phone call from the Secretary of State and the Chancellor of the Exchequer if I did such a thing would be hotly followed by one from the Prime Minister. Therefore, it would be wrong of me to exceed the powers that have been given to me. Of course, I understand the comment, and I see that I shall be invited to exceed the powers given to me.