UK Steel Sector: Supply Chains
Debate between Amanda Solloway and Seema Malhotra(3 years, 5 months ago)
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Amanda Solloway
I will, of course, pass on the hon. Gentleman’s question.
I will move on to Liberty Steel. The hon. Member for Newport East rightly highlighted its importance to many Members and their constituents, and its recent financial difficulties, which were also raised by the hon. Member for Rotherham. As the Secretary of State reaffirmed to the Business, Energy and Industrial Strategy Committee in an oral evidence session, we continue to monitor the situation closely and engage with the company, trade unions, local MPs and the wider steel industry. Liberty is important.
Seema Malhotra
Does the Minister appreciate that there is a need to work to support plants that are viable—such as Stocksbridge and Brinsworth, which purchase their supplies from Rotherham—and provide the working capital that is needed for orders that are there and products that are there to be made?
Amanda Solloway
I thank the hon. Member for her contribution. Again, I will pass that on, with the passion that she has shown, to the relevant places.
I return to Liberty Steel. We continue to monitor the situation closely and to engage with the company, trade unions, local MPs and the wider steel industry. Liberty is an important supplier of steel and provides highly skilled jobs. The Government believe that Liberty sites can be viable and we remain hopeful that the commercial issues can be resolved to ensure future success.
It is, however, first and foremost the company’s responsibility to manage commercial decisions for the future of the organisation, and we welcome the dedicated efforts being made by Liberty to find solutions. I hope that I have reassured hon. Members, who have displayed sincere empathy for our steel sector today, that the Government are working tirelessly with the industry to secure its future through difficult times.
Focusing specifically on Tata Steel—I know that that is of great interest to the hon. Member for Aberavon, and I have saved discussion of it for my summing up—I can assure Members that the Government will continue to work closely with the company and the unions as they shape the business strategy to support the future of high-quality steelmaking in Port Talbot.
I have set out a wide range of actions that demonstrate that the Government fully understand the vital role that steel plays for communities, for our economy and as a foundation supplier for our manufacturing base. UK industry will continue to need high-quality steel, and British steel is among the best steel in the world. As we level up our country, we are actively considering where there is scope to go further to support our steel industry.
We are committed to sustainable decarbonisation, decarbonising a globally competitive future steel industry in the United Kingdom, and I look forward to working with Members towards achieving that goal.
Oral Answers to Questions
Debate between Amanda Solloway and Seema Malhotra(3 years, 6 months ago)
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Amanda Solloway
The Government have provided unprecedented support to business sectors throughout the pandemic, including the hospitality and retail sectors. In addition to the job retention scheme and cuts to business rates and VAT, we have provided one-off restart grants of up to £18,000, which are available to businesses in the non-essential retail, hospitality, leisure and personal sectors to support them to reopen as restrictions are relaxed. To date, businesses in Coatbridge, Chryston and Bellshill have benefited from more than 1,500 loans and £59 million, with 70,800 jobs supported through furlough.
Seema Malhotra (Feltham and Heston) (Lab/Co-op)
This week marks English Tourism Week, but the UK’s tourist destinations have been hit hard, with a much higher than average increase in people who are now out of work, including in places such as Scarborough and Whitby. Many tourism businesses, such as hotels and cafés, have taken on debt to stay afloat, and one in five hospitality businesses now says that it is at moderate risk of insolvency. Yet the Government’s pay as you grow scheme does nothing to solve the underlying long-term issue of business debt, which means that businesses will have to repay whether or not they are making a profit. Does the Minister agree that, if we want to give businesses the time to build up their trade and resilience, and also protect jobs and not let debt stifle the recovery, we need a genuinely flexible repayment scheme such as the one Labour has called for.
Amanda Solloway
We care passionately about businesses in this Government, and our support package includes the job retention scheme, generous grants and cuts to business rates. Pay as you grow measures will allow 1.5 million bounce back loan borrowers to extend payment terms and to benefit from a further repayment holiday. Our plans to support economic recovery and pursue growth through significant investment in infrastructure skills and innovation will help us to build back better and level up across the United Kingdom.