British Steel

Lord Forsyth of Drumlean Excerpts

Wednesday 8th November 2023 Lords Chamber

[Lord Boateng (Lab)]

My Lords—

[Lord Forsyth of Drumlean (Con)]

My Lords, it is this side. Does my noble friend recall that the second crossing of the Forth Road Bridge was made of steel, most of which came from China, where they are opening one coal-fired power station a week? Is it not insane to pursue a green agenda which will destroy jobs on this scale and at the same time cost many millions of what my noble friend describes as “government money” but which is taxpayers’ money or borrowed money that taxpayers will have to pay for?

[The Earl of Minto (Con)]

I completely understand the point about it being taxpayers’ money. There is no such thing as free money and it is very important that we do not lose sight of that. The issue of dealing with China has been well rehearsed, and the Chinese ownership of British Steel is widely known. We are supportive of that relationship.