Steel Industry (Nationalisation) Bill

Debate between Chris McDonald and Alex Barros-Curtis

Committee of the whole House
Monday 8th June 2026 Commons Chamber

[Mr Alex Barros-Curtis (Cardiff West) (Lab)]

I am grateful to the Minister for putting on the record this Labour Government’s record on Welsh steel, because it contrasts with the 14 years of ruin under the Tory Government. Their failure to have an industrial strategy caused decisions to be taken in Port Talbot before this Government came into power. The Tories do not like to be reminded of that, but we will remind them about it every time. It is something that Plaid Cymru—I have great respect for the hon. Member for Caerfyrddin (Ann Davies)—and Reform would do well to remember when they turn up for their photo op outside Port Talbot.

I want to touch on something that my constituents are grateful for, which is this Government’s steel strategy. As the Minister rightly says, that resulted in a £100 million investment by Sev.en in 7 Steel in Cardiff. Does he agree that that is not only a sign of the importance of the steel strategy, but will mean that at least half of future UK steelmaking will be Welsh steel? All Members in the House should welcome that.

[Chris McDonald]

I thank my hon. Friend for making that point. He is right that we should welcome that 50% of UK steel will be made in Wales. We talk about Port Talbot specifically, but 7 Steel’s plant has operated incredibly well for so long, making the rebar steels that are essential for our construction industry in the United Kingdom, as well as in Ireland, which 7 Steel supplies, too. Long may that continue. I am sure that the investment will help with that.

The right hon. and learned Member for Kenilworth and Southam (Sir Jeremy Wright) raised a number of concerns, such as the operation of the Bill, its powers, public money and so on. He made a comparison with the Banking Act 2009, and he is right that I have made great play about the similarity between this Bill and that Act. I reassure Members that, having passed the Banking Act to great acclaim, this Bill is following its path, and we made a positive decision to do that.

The right hon. and learned Gentleman mentioned the requirement in the Banking Act for the Chancellor of the Exchequer, I believe, to consult with the Prudential Regulatory Authority, the Financial Conduct Authority and the Bank of England, and how a consultation requirement is not in the Bill. He is right to point that out, but these are different industries. The banking industry is highly regulated, and there are statutory bodies that require consultation. There is no opportunity to replicate that in the steel sector, because there are no such statutory bodies. He rightly made the point that it is important that we engage on the detail in Committee, and I thank him for raising that point and giving me the opportunity to respond.

Oral Answers to Questions

Debate between Chris McDonald and Alex Barros-Curtis

Thursday 21st May 2026 Commons Chamber

[The Parliamentary Under-Secretary of State for Business and Trade (Chris McDonald)]

Since publishing our steel strategy on 19 March, we have published provisional product scope and quota volumes for the new steel trade measures; further reduced electricity prices for steel companies from 1 April through our network charging compensation scheme uplift; confirmed that some steel companies will be part of the British industrial competitiveness scheme; announced new transparency requirements on the origin of steel in public procurement; set up a cross-Government working group on scrap; and introduced—today—the Steel Industry (Nationalisation) Bill.

[Mr Barros-Curtis]

Last week, Sev.en Global Investments announced a £100 million investment into 7 Steel UK in Cardiff, a site that I have recently visited. Do the Government agree that that investment shows our plan to prioritise a modern steel strategy is paying off for jobs and growth while putting working people in Wales and the rest of the UK first?

[Chris McDonald]

I do indeed agree. The £100 million investment in 7 Steel UK is welcome news, but I met the owners of the business, and they told me that they were able to release that investment only because of the confidence they had in the Government’s approach following the publication of our steel strategy. That is a direct correlation between Government action and £100 million-worth of investment in Cardiff.

I know that my hon. Friend has been a strong advocate of the steel industry. There is an opportunity later today for Members of the House to decide whether they are on the side of the steel industry or not. I encourage the Opposition to put their ideology aside just for a moment and get behind the steel industry this afternoon— I know that is difficult when a Bill has the word “nationalisation” in its title.