Lindsay Hoyle
Main Page: Lindsay Hoyle (Speaker - Chorley)
Sajid Javid
It is fair for the hon. Gentleman to raise the issue of Chinese steel, because we have all seen the massive increase in Chinese output of steel over the last decade, but it would be wrong for Members to assume that that is the only issue facing the industry. Regarding market economy status, as I mentioned, a review is being conducted by the Commission. Once it has reported, we will consider it.
Geraint Davies (Swansea West) (Lab/Co-op)
Five years ago, I asked the Prime Minister at Prime Minister’s Question Time whether he understood that the Chancellor—he is just taking his seat—
“unilaterally setting the minimum price for carbon in Britain will drive out inward investors such as Tata Steel”
in Swansea Bay. He responded:
“I will of course listen to the hon. Gentleman, but I think that Ratan Tata knows a bit more about his business than he does.”—[Official Report, 30 March 2011; Vol. 526, c. 338.]
Having failed Tata, will the Secretary of State now promise, first, fully to fund the pension fund, indexed to RPI, so that we do not short-change pensioners or cause contagion in the pension industry; and, secondly, to ensure a 25% Government share for the long run so that investors, whether Tata or others, have confidence investing in the future—
Sajid Javid
The hon. Gentleman is right to raise the issue of energy costs. He should bear it in mind that although it is an important component of steelmaking, the total cost is often in the low single digits. Of course, that does not make it unimportant, and that is why we have taken action. We have introduced compensation and we are moving towards exemption, which will help.
Mrs Madeleine Moon (Bridgend) (Lab)
Talking to steelworkers yesterday, I heard over and over again how highly skilled members of the workforce were being poached by other industries. Does the Secretary of State appreciate the importance of maintaining the confidence of the skilled workforce in the steel industry? Perhaps one way he could do that would be to give an assurance today that public sector contracts will always specify a high percentage of British-made steel.