British Steel Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Clive Betts
Main Page: Clive Betts (Labour - Sheffield South East)Department Debates - View all Clive Betts's debates with the Department for Business, Energy and Industrial Strategy
(5 years, 7 months ago)
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Andrew Stephenson
I see the steel sector as fundamentally important to the British economy, and we are keen to do everything we can to support it. However, as I have already said and the House will know, we can only act within the strict bounds of what is legally possible under domestic and European law.
Mr Clive Betts (Sheffield South East) (Lab)
It is now nearly two years since the Helm review, yet British steel producers are paying 50% more for energy than their competitors in Germany and nearly twice as much as those in France. Does the Minister accept that that disparity has to be removed? If so, what action will he take to remove it and when will he take that action?
Andrew Stephenson
We have already provided £291 million in compensation to the steel sector since 2013, including £53 million in 2018, to make energy costs more competitive. I am particularly keen to see the steel sector benefit from the industrial energy transformation fund, which is backed by an additional £315 million of investment. I have already had discussions with UK Steel about how firms across the sector can make the most use of this transformative funding.