UK Steel Production: Greensill Capital

Lord Spellar Excerpts
Thursday 25th March 2021

(3 years, 8 months ago)

Commons Chamber
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Kwasi Kwarteng Portrait Kwasi Kwarteng
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I welcome my hon. Friend’s report and his contribution to the debate around the green industrial revolution. He is absolutely right that, alongside steel, we should consider all forms of innovative and novel materials—advanced materials—that can help us build back greener and more sustainably.

Lord Spellar Portrait John Spellar (Warley) (Lab)
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The three fleet solid support ships, at 40,000 tonnes, are equivalent in size to the two aircraft carriers. That is a lot of steel. Only this week, the Ministry of Defence finally conceded that they will be designated as naval vessels, meaning that they will be built in British yards. When the Secretary of State goes back to his office, will he get on to the Defence Secretary and tell him they must also be built with British steel?

Kwasi Kwarteng Portrait Kwasi Kwarteng
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I admire and am always impressed by the right hon. Gentleman’s passion for these issues, and I think he is absolutely right. We do have a need for huge amounts of steel in infrastructure in this country. That is why I have said repeatedly that there is a future for the steel industry in the UK.