British Steel
Debate between Diana Johnson and Andrew Stephenson(5 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Andrew Stephenson
Sector deals are not about value signalling. We are not doing sector deals randomly across the board. We are doing sector deals where we believe that they can deliver a transformation in productivity and enhance production in any sector. The UK steel sector, like the global steel sector, is challenged by global economic conditions, oversupply and a range of other factors. We have taken firm action on sorting out energy costs. We are supplying millions of pounds in compensation. We have launched the industrial energy transformation fund and we have the industrial strategy challenge fund. There is the steel pipeline and now the steel charter. This Government are dong an awful lot to help the UK steel sector.
Diana Johnson (Kingston upon Hull North) (Lab)
I wonder whether the Minister might respond to the point raised by my hon. Friend the Member for Scunthorpe (Nic Dakin), who said that the stakes are too high to fail for this vital national industry as well as for the regional economy in the Humber area.
Andrew Stephenson
The closure of any steel blast furnace or steel mill would have a significant impact on the locality. All the sites across the United Kingdom employ large numbers of people, which is why we are very keen to support all sites across the country. However, as I have said, the Government are willing to take action and intervene where we can. We supplied the £120 million bridging facility to British Steel recently, which I hope shows the level of commitment from this Government. We will work with all companies across the sector to support them, but any support we provide to any business has to be judged against British and European law.