Scunthorpe Steelworks
Debate between Lord Macpherson of Earl's Court and Baroness Jones of Whitchurch(2 weeks, 1 day ago)
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Baroness Jones of Whitchurch (Lab)
My Lords, we continue to do everything that we can to protect the steel industry. That obviously includes looking at the costs concerned. If necessary, we are committed to providing £2.5 billion to help rebuild the steel industry over the next five years. This will be available through the National Wealth Fund and other routes. We are continuing to look at what further steps need to be taken to protect the steel industry in this country.
Lord Macpherson of Earl’s Court (CB)
My Lords, do the Government agree that in recent years private sector steel producers have effectively had the Government over a barrel in negotiations? Will they commit to protecting taxpayers’ interests alongside the jobs of those working in the steel industry?
Baroness Jones of Whitchurch (Lab)
The noble Lord is right that this is a balance, but there are many good reasons why we need a steel industry in the UK, although obviously not at any price. We have made a significant offer of financial support to British Steel, and I hope that when those discussions continue the matter will be resolved.
US Steel and Aluminium Tariffs
Debate between Lord Macpherson of Earl's Court and Baroness Jones of Whitchurch(1 month ago)
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Baroness Jones of Whitchurch (Lab)
My Lords, Northern Ireland is a part of the United Kingdom’s customs territory and internal market. We will continue to monitor closely the impact on Northern Ireland of any tariffs. While the framework means that tariffs would apply on US goods moved into Northern Ireland for the limited subset of US goods in line with its protection of the UK and EU markets, there is a duty reimbursement scheme in place where those goods do not enter the EU. The duty reimbursement scheme enables traders to reclaim or remit applicable duties in full without any limit on total claims. Businesses moving goods into Northern Ireland should contact HMRC for more information about these schemes.
Lord Macpherson of Earl’s Court (CB)
My Lords, does the Minister agree that tariffs harm consumers and encourage industrial inefficiency? Does she agree that the British economy was at its most successful when it was pursuing a policy of unilateral free trade in the 19th century?
Baroness Jones of Whitchurch (Lab)
The noble Lord makes an important point about our commitment to free trade. The Prime Minister has made our position absolutely clear on this matter. I am sure there are lessons from history that we can learn on all of this. We will continue to promote our policy of free trade and encourage new agreements wherever it is in our interest.