Steel Industry (Nationalisation) Bill 2026-27

21

Clause 1, page 1, line 6, leave out "of or including" and insert “predominantly of”

14

Clause 2, page 1, line 14, leave out "includes (but is not limited to)" and insert "means"

23

Clause 2, page 1, line 20, at end insert- “(d) preventing the closure of, or the loss of jobs at, a steel undertaking in Wales."

15

Clause 2, page 2, line 20, at end insert- "(2A) The Secretary of State may not exercise a principal transfer power unless he has commissioned an independent assessment of whether the exercise of the power is in the public interest, and that assessment has demonstrated that it is in the public interest. (2B) The Secretary of State may appoint such independent person as he thinks fit to carry out an independent assessment under subsection (2A) above, and may pay remuneration and allowances to that person."

16

Clause 2, page 2, line 20, at end insert- "(2A) The exercise of a principal transfer power may only be considered to be in the public interest under subsection (1) if the Secretary of State has is satisfied that the exercise of the power would provide value for money for the taxpayer."

17

Clause 2, page 2, line 20, at end insert- "(2A) The Secretary of State may not exercise a principal transfer power under subsection (1) unless they have laid a report before Parliament containing full details of the criteria used to assess whether the exercise of power would be in the public interest.”

12

Clause 3, page 2, line 10, leave out subsections (3) to (5)

18

Clause 39, page 25, line 32, leave out "negative” and insert “affirmative”

19

Clause 45, page 28, line 37, leave out "negative” and insert “affirmative”

13

Page 32, line 1, leave out Clause 50

20

Clause 58, page 39, line 7, at end insert- "(1A) The Secretary of State may only provide financial assistance under this section if they are satisfied that financial assistance will secure value for money.”

22

Clause 58, page 39, line 8, at end insert- “(1A) The Secretary of State may not in any five-year period provide financial assistance under this section of an amount that exceeds £1 million per employee of the steel undertaking. (1B) The number of employees of a steel undertaking for the purpose of subsection (1A) is the number of persons employed on the date the financial assistance was first provided. (1C) "employee" has the meaning given by section 230 (Employees, workers etc.) of the Employment Rights Act 1996."

24

Clause 58, page 39, line 24, at end insert— "(4A) Financial assistance under this section may not include funding provided by the National Wealth Fund."

10

Clause 59, page 39, line 31, leave out “12” and insert “3”

11

Clause 59, Page 39, line 33, leave out “12” and insert "3"

NC12

To move the following Clause- "Financial assistance: limit Financial assistance of a total value of no more than £2.5 billion may be provided under section 58 of this Act before 15 August 2029.”

NC13

To move the following Clause- "Financial assistance: England and Wales Where financial assistance is provided to steel undertakings in England under section 58 of this Act, an equivalent to the total amount of financial assistance provided to steel undertakings in England must be made available to steel undertakings in Wales."

NC7

To move the following Clause- "Impact assessments Before exercising any power under this Act, the Secretary of State must publish an impact assessment on the proposed exercise of that power."

NC9

To move the following Clause- "Duty to try to find a private sector purchaser for any nationalised steel undertaking Where a steel undertaking has been subject to the principal transfer power under this Act, the Secretary of State must- (a) make all practicable efforts to find a private sector purchaser for the steel undertaking; and (b) lay a report before Parliament every six months which sets out progress made towards finding a private sector purchaser for the steel undertaking.”

NC10

To move the following Clause- "Report on the impact any nationalisation of steel undertakings has had on inward investment to the United Kingdom Within six months of the passing of this Act and every subsequent six months, the Secretary of State must lay a report before Parliament which sets out the impact that nationalisation of any steel undertaking under this Act has had on inward investment to the United Kingdom."

NC11

To move the following Clause- "State aids The Secretary of State must not exercise the powers in this Act so as to grant any advantage through state resources on a selective basis to any organisations that could potentially distort competition and trade, including any advantage that might be granted to steel undertakings subject to a transfer power over comparable privately-owned steel undertakings in the United Kingdom.”

NC5

To move the following Clause- "Duty to report: 10-year strategy for nationalised steel undertakings (1) Within three months of exercising a principal transfer power in relation to a steel undertaking under this Act, the Secretary of State must publish and lay before both Houses of Parliament a report containing a 10-year strategy for the steel undertaking. (2) Any report published under subsection (1) must include— (a) a strategy for the operation of any blast furnaces which form part of the steel undertaking, (b) an investment plan for the steel undertaking, (c) a vision for the future of the site of the steel undertaking, and (d) consideration of the need for a steel procurement strategy which prioritises British steel to support the steel undertaking, for the following 10 years.”

NC4

To move the following Clause- "Limit on expenditure on financial assistance and compensation (1) The total amount of compensation paid by the Secretary of State under Part 2 and financial assistance paid under section 58 is limited to— (a) £500m, or (b) an amount so authorised by resolution of the House of Commons, whichever is higher."

1

Clause 2, page 2, line 20, at end insert- "(2A) The Secretary of State may not exercise a principal transfer power unless they have laid a statement before both Houses of Parliament explaining their reasons for concluding that it is necessary to exercise the power in the public interest.”

2

Clause 4, page 2, line 30, leave out "negative" and insert "affirmative"

3

Clause 15, page 8, line 21, leave out "negative" and insert "affirmative"

NC2

To move the following Clause- "Stakeholder Advisory Committee (1) The Secretary of State must establish a Stakeholder Advisory Committee to provide advice on the exercise of principal transfer powers under this Act ("the Committee"). (2) The Secretary of State must ensure that the membership of the Committee includes representation from stakeholders, including but not limited to— (a) industries that rely on the supply of steel, including the defence sector and critical national infrastructure, (b) representatives of the workforce of the steel undertaking, and (c) local authorities for the areas in which the steel undertaking operates. (3) The Secretary of State must consult, and have regard to the advice of, the Committee before making a determination that the exercise of a principal transfer power is necessary in the public interest under section 2.”

NC3

To move the following Clause- "Jobs and industrial transition strategy (1) Where the Secretary of State has exercised a principal transfer power in respect of a steel undertaking, the Secretary of State must prepare and publish a jobs and industrial transition strategy. (2) A strategy under subsection (1) must explicitly set out how the Government's investment and transition plans for the specified steel undertaking will— (a) protect skilled employment, (b) provide and support reskilling and redeployment opportunities for the workforce, and (c) deliver tangible economic renewal and support economic resilience in the local communities dependent on the steel undertaking. (3) The strategy must be laid before Parliament within six months of the day on which the regulations exercising the principal transfer power take effect.”

4

Clause 59, page 39, line 28, insert at end "and, (b) compensation paid under any compensation scheme regulations made under section 52."

5

Clause 59, page 39, line 28, insert at end "and, (b) about the progress the Government has made in negotiating an improved agreement with the European Union for the export of steel produced in the United Kingdom.”

NC1

To move the following Clause- "Limit on expenditure on financial assistance and compensation (1) The total amount of compensation paid by the Secretary of State under Part 2 and financial assistance paid under section 58 is limited to— (a) £XXX; or, (b) an amount so authorised by resolution of the House of Commons, whichever is higher."