Alan Mak
Main Page: Alan Mak (Conservative - Havant)(9 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text
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Mr Speaker
I thought the hon. Gentleman was standing—I had been so advised. Never mind; it is a rarity that he does not wish to contribute. I call Mr Alan Mak.
Mr Alan Mak (Havant) (Con)
Will the Minister confirm that although strict EU state aid rules have prevented the Government from directly intervening in the steel industry, the £80 million package that they have announced represents strong and practical intervention in a difficult situation?
Anna Soubry
That is the case. It is not good enough for Labour Members, who know the confines of the state aid rules, to shout “rubbish”. Let me put SSI’s losses on the record: 2012, £275 million; 2013, £193.5 million; 2014, £81 million. Until the end of June 2015, there were losses at Redcar of £92.5 million. That represents more than £0.5 billion of losses in little more than three years. That is indeed heartbreaking, but it is the harsh financial reality of the situation at Redcar.