Steel Trade Measure Debate
Full Debate: Read Full DebateDepartment: Department for Business and Trade
Julian Smith
Main Page: Julian Smith (Conservative - Skipton and Ripon)Department Debates - View all Julian Smith's debates with the Department for Business and Trade
(1 month, 1 week ago)
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Chris Bryant
There is a very fetching photograph of my hon. Friend and me at the electric arc furnace at 7 Steel in Cardiff. It is a very impressive operation—it is a very impressive photograph—and he makes a good point. We want to get to 50% of UK steel needs being met by British-made steel; it is a very simple campaign. The sector has now been in decline for decades, and we are at a critical moment. I have heard people say, “Why can’t you just delay this measure for a few months?” That would be the end of UK production of steel—completely and utterly. We simply cannot allow that to happen, given our defence needs, infrastructure needs and, frankly, national security needs. That is why we are committed in the way that we are.
Sir Julian Smith (Skipton and Ripon) (Con)
The Minister spoke about monitoring this policy from day one, but there will not be a review for 12 months. What will the monitoring comprise, and what happens if that monitoring reveals problems very early on? Will he have to wait until the review after 12 months, or will he be able to implement impacts and analysis from the monitoring?
Chris Bryant
That is a fair point. We have tried to do two things. In key areas, we want to ensure that people can maintain historical trade flows, so we need to monitor how those trade flows are progressing. We can do that with His Majesty’s Revenue and Customs on a regular basis. If there is a sudden spike, we may need to address it. There may be special events, like the fire in Port Talbot the other day; that has not presented the kind of problem we thought it might, so we have been able to stick with our plans. Speciality Steel, for instance, has not been able to get up and running yet, which is why we adjusted some of the codes. We always reserve the right to make a significant intervention during that period if we absolutely have to, but I want to provide industry with as much predictability as possible. That is why we are talking about a one-year review.