Port Talbot Transition Project

Bob Blackman Excerpts

Wednesday 11th September 2024 Commons Chamber

[Jonathan Reynolds]

I thank my hon. Friend very much for her question. Let me say again that I wish that we were in a position to do even more, but I can tell hon. Members that this is the maximum improvement that was possible within two months. I know that in constituencies such as my hon. Friend’s people are seeking more than anything else a recognition that steel is not a sunset industry. It is vital to the future; it is not the case that it should be in inevitable decline in the UK. Indeed, we are an outlier in terms of the size of our steel industry among comparable G7 and OECD countries. This could be and should be a very positive story, and I am honestly confident that we can deliver that in future.

[Bob Blackman (Harrow East) (Con)]

The right hon. Gentleman mentions procurement, and over countless years we have had statements and new strategies for steelmaking. Will he set out his plans to secure a long-term order book for steelmaking in this country, so that investors can make sure that they get value for money as well as the taxpayer? Equally, how will he endeavour to use the public purse to purchase British steel, while at the same time encouraging the export of British steel to other parts of the world?

[Jonathan Reynolds]

I am grateful to the hon. Member for his question and very much agree with him. As the shadow Secretary of State, I avidly read the statistics that the Department published about UK content in domestic steel procurement. We must recognise that it is usually relatively high, but only in the sectors where we are producing particular grades of steel. Part of the strategy has to look at future demand, not just for what we already produce, but in terms of gaps and business opportunities. If we are improving the business environment, we need not just to help incumbent producers in the United Kingdom transition, but bring in new entrants, creating more competition in the market. I can see that there is significant demand in the market. It is the market that is driving the demand for green steel. I have no concerns about the future order book; it is the business environment taking advantage of that demand that this strategy needs to address.