Adrian Bailey
Main Page: Adrian Bailey (Labour (Co-op) - West Bromwich West)UK Steel Industry
Adrian Bailey Excerpts
Sajid Javid
I do not know where the hon. Gentleman gets his numbers from, but this brings me to a useful point. The hon. Member for Wallasey said earlier that I had stated yesterday that manufacturing output in this country had gone up since 2010; she suggested that that was somehow incorrect. I can tell her that manufacturing output has gone up 2.2% in real terms since 2010 and that it is up 18.7% in current prices. Those are the official numbers, and manufacturing employment is also up. If she wants to hear about when manufacturing output actually fell, I can tell her that it was during the last Labour Government, when it fell from 18% of GVA to about 10%.
Mr Adrian Bailey (West Bromwich West) (Lab/Co-op)
Steel companies are seriously concerned that the granting of market economy status to China will severely jeopardise their ability to take Chinese and other companies to court for steel dumping. What assessment has the Secretary of State made of that threat?
Sajid Javid
First, that will be a decision for the EU. We will, of course, have an input, but it will be a collective decision. Secondly, if any country wants market economy status, it must earn it. Whatever the country, it must show that it is behaving in a responsible way. Thirdly, we must remember that even when countries get market economy status, tariffs can still be imposed. Russia and the United States would be good examples.
Sajid Javid
My hon. Friend will know that that comment related to Tata’s decision to sell its strip products business. What I said was really to show that when the Government say that we will consider all options to help create a long-term, viable business with a commercial operator, that would be such an option. The key point is that any co-investment would have to be on commercial terms. Investment can take a variety of forms, such as debt, but what I said was a demonstration of all the options that the Government are considering. I will move on to say a little more about Tata strip products in a moment.
Sajid Javid
Not now.
The action taken on tariffs, energy costs and procurement has sent a powerful message to investors around the world that the British Government are standing up for UK steel. That commitment is not new; I have been working with the steel industry from my very first day as Business Secretary, long before the current crisis made it on to the front pages. As I told the House yesterday, Tata contacted me several weeks ago to warn that it planned to sell parts of its strip business and to close its Port Talbot site immediately. Thanks to the groundwork laid by my team and colleagues over the past year, we were able to secure a reprieve while a buyer is found. I am leading the Government’s efforts to help to find a buyer for the strip business, and we will update the House on progress as soon as possible.
When that buyer is found, the Government stand ready, as I have said, to support it in any way we can to help to get the deal done. We have already set out some of the ways in which we can help. It would not be prudent to go into the detail, but the goal is to find a commercial buyer, with the Government helping to secure that transaction and a long-term, viable future for the business.