Steel Trade Measure

Kit Malthouse Excerpts

Thursday 25th June 2026 Commons Chamber

[Chris Bryant]

I am grateful for my hon. Friend’s comments, and I know that he has raised some of those issues with the Secretary of State and the Under-Secretary of State for Business and Trade, my hon. Friend the Member for Stockton North. It is probably best that we go through the granular detail of the particular company’s concerns.

Let me also correct the idea of there being an exemption. There is not an exemption; it is just that we are including some categories of steel in the trade measure and not including others. As the hon. Member for Boston and Skegness (Richard Tice) just said, nearly 75%—it is actually 74%—of steel imports are not covered by the trade measure at all.

[Kit Malthouse (North West Hampshire) (Con)]

I too am grateful to the Minister and his colleagues for the flexibility they have shown so far, and I will come and see him on Monday. First, could he be a little clearer about how dynamic he will be on quotas? At first look to me and the businesses in my constituency that are concerned, some of the quotas look a bit tight. If there was a sudden spike in prices following the imposition, can he move quickly and, if so, how quickly, because obviously decisions are made with a long-term view? Secondly, he said that without these quotas the UK would become a dumping ground for cheap steel. We may well now become a dumping ground for cheap fabricated products, so what will he do on fabricated products alongside this? Thirdly, this means that the Government will collect millions of pounds from British businesses importing steel that will still import above the quota. What will happen to that money?

[Chris Bryant]

The last question is a clever one—that is a matter for the Chancellor, however. On fabricated steel, the right hon. Member makes a good point, which I know several people made in the urgent question last week, or whenever it was—I was in Türkiye trying to negotiate a free trade agreement with it and, in fact, talking a bit about steel as well. It is a good point, and we will look at that. I do not want to overpromise on the idea that at the moment, if there is a fluctuation in prices that we as a Government will suddenly move in and change all the quotas, because predictability and continuity are often as important for business as anything else so they know the terms under which they are operating, so I do not want to overpromise. Our main point is that we will do a review after a year, and we will engage with everybody all the way through.

[Kit Malthouse]

So nothing will change.

[Chris Bryant]

The right hon. Member says from a sedentary position that nothing will change. I am just trying to moderate his expectations of change, but obviously, if there is a very significant, exceptional moment then we may need to act. The kind of thing I am talking about is speciality steel, for instance. When we started this process, we thought that it would be up and running again. It is not now, and that is one of the reasons that we have been able to change those categories’ quotas. But I do not want to give the expectation that the moment somebody experiences some concern that we will suddenly change, because in the end, as I say, there are difficult trade-offs here and we want to ensure that UK production of steel survives and grows.