Steel Industry (Nationalisation) Bill Debate
Full Debate: Read Full DebateDepartment: Department for Business and Trade
Lord Fox
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Steel Industry (Nationalisation) Bill
Lord Fox ExcerptsMonday 13th July 2026
(4 weeks, 2 days ago)
Lords ChamberRead Full debate Steel Industry (Nationalisation) Act 2026 View all Steel Industry (Nationalisation) Act 2026 Debates Read Hansard Text Watch Debate Read Debate Ministerial Extracts Amendment Paper: HL Bill 22–R–I(a) Amendment for Report (Supplementary to the Marshalled List) - (7 Jul 2026)
Lord Fox (LD)
My Lords, I agree with the Minister that the Bill is an important element in securing the future of the vital steel industry. It is, of course, a first step. There is an awful lot to do.
The Bill leaves your Lordships’ House in a better state than when it arrived. For example, it is now mandatory for overall costs of nationalisation to be taken into consideration by the Secretary of State when assessing the public interest; environmental legacy costs must be fully assessed by the valuer; there will be parliamentary debates and quarterly Written Ministerial Statements; the management of a business that is nationalised will be quizzed by Select Committees, and the steel council will better represent steel users.
Those are all important steps, and many are improvements on parliamentary accountability, which was the mission that we on these Benches set ourselves at the beginning of this debate. I echo the Minister in saying that that could not have been achieved without co-operation and debate.
I thank the Minister, his team and the departmental team for their openness, availability and flexibility. I thank the Minister in the Commons too for the time that he spent. I thank the noble Lords, Lord Sharpe and Lord Hunt, who remained, as ever, amiable debate company as we wended our way through the Bill. Finally, I thank Ulysse Abbate in the Lib Dem Whips’ Office, whose support has been superb.
As I said, the Bill has been materially changed. I hope that the Commons accept our changes and we do not have to see the Bill here again. It is a first step. I wish the Minister well in taking the next steps.
Lord Sentamu (CB)
My Lords, I apologise to the noble Lords, Lord Fox, Lord Hunt and Lord Sharpe. Their amendments were to this Bill and not to the trains Bill. Nevertheless, the point stands. The attendance was no greater than when it was debated in Grand Committee. I apologise and sincerely hope that they realise that I was so involved with both Bills that, in my enthusiasm, I erred. I am sorry.