UK Steel Production: Greensill Capital

Lindsay Hoyle Excerpts

Thursday 25th March 2021 Commons Chamber

[Kwasi Kwarteng]

I appreciate that questions are getting very long in this House.

[Mr Speaker]

Order. I think I am the judge of that. The Secretary of State may be new to the Dispatch Box in his new position, but the Opposition are entitled to two minutes, and the hon. Member for Manchester Central (Lucy Powell) was within that time. Please, let me make those judgments.

[Kwasi Kwarteng]

I am very happy to defer to you, Mr Speaker; I have huge regard for your position, as I have mentioned many times. With respect to the remarks of the hon. Member for Manchester Central (Lucy Powell) about my being dragged back to the Dispatch Box, that is not the case at all. As she knows, I was the Secretary of State who reconstituted the Steel Council on 5 March. That was a top priority for me, because I feel that we have a future for UK steel: the Government’s infrastructure plans will need around 5 million tonnes of steel over the next decade. It is absolutely a commitment of mine, as Secretary of State, to ensure that we have a viable steel industry in this country.

[Kwasi Kwarteng]

My hon. Friend is absolutely right. What devastated the steel industry was, as we know, 13 years of Labour Government. We have made it very clear, with our industrial decarbonisation strategy, published only last week, that we remain committed to a UK steel industry and a decarbonised future, and also to green jobs, particularly in in our levelling-up agenda.

[Mr Speaker]

I call the SNP spokesperson, who has one minute.

[Stephen Flynn (Aberdeen South) (SNP)]

I commend the shadow Minister for securing this urgent question on what is an incredibly important topic, not least for the workforce, who I assume are listening very closely to the Secretary of State. Of course, this issue is important not only to England and Wales but to the people of Scotland. The Dalzell and Clydebridge steelworks are very much at the forefront of my thoughts, and so too are GFG’s wider holdings, such as the Lochaber smelter. I am very conscious of the fact that the Cabinet Secretary for Rural Economy and Tourism made a proactive and informed statement to the Scottish Parliament yesterday. I would welcome assurance from the Secretary of State that he will engage in open and transparent dialogue with my colleagues north of the border moving forward. Finally, I would welcome a little bit of clarity from the Secretary of State on quite how far his Government are willing to go in respect of supporting what are, as I understand it, perfectly viable businesses.

--- Later in debate ---

[Bob Stewart (Beckenham) (Con)]

I am very sorry I was late for the start, Mr Speaker, but I was having a rather shouted conversation with the Chief of the General Staff about the massive cut of 12% in our Army, and particularly the loss of my battalion—

[Mr Speaker]

Order. I do not think this has anything to do with the question; I think I would stick to the business question. You do not want to lose your place—come on, Captain Bob.

[Bob Stewart]

I knew I was going into the Valley of Death. The question, Sir, is this: what percentage of our national steel production, which is a sovereign capability, is affected by the Greensill Capital financial crisis? I am very sorry—I knew I was going to get into trouble.

[Mr Speaker]

No, I think it will be with the Chief Whip later.

[Kwasi Kwarteng]

I am very pleased to see my right hon. Friend in his place. The key point is that Liberty Steel produces via electric arc furnaces, so it is clean steel. A lot of the steel that we produce relies on older methods. That is why, for me, in terms of our decarbonisation strategy, the future of Liberty Steel is of great importance.

--- Later in debate ---

[Kwasi Kwarteng]

The hon. Lady will know from our bilateral conversations that I am very committed, as Secretary of State, to the future of this sector. I am always happy to meet representatives, experts, workers, representatives in a trade union capacity and local management. I am always open to seeing people and trying to work out pragmatic, positive solutions. This is a really important issue and I am pleased to have engaged with the hon. Lady in the past, as I am sure I will in the future.

[Mr Speaker]

I am now suspending the House for a few minutes to enable the necessary arrangements to be made for the next business.