Speciality Steel UK

Llinos Medi Excerpts

Monday 14th September 2026 Commons Chamber

[Jonathan Reynolds]

I am grateful to my hon. Friend for her advocacy on behalf of her constituents. She and I have discussed the matter several times. For colleagues who are less aware of the issue, Dalzell is a separate legal entity and company from Speciality Steel and thus separate from the full plans that we are talking about. Dalzell is still owned by the Gupta Family Group, but many of the same issues are found there. My hon. Friend knows that because that part of the business is not being run by the official receiver—it is a different set of circumstances—with any interest that we had, we would have to establish the level of liability, and the flow of public money that would be required, given the former associations that it has. We do not have current plans to do that, but we will remain closely engaged with my hon. Friend. I know that her constituents want to be back at work, and I share their frustration, but the House should be aware that Dalzell is in a different position from the rest of SSUK.

[Llinos Medi (Ynys Môn) (PC)]

I wish to pass on my party’s condolences to the Prime Minister and his family.

While recognising the £500 million transition fund to Port Talbot, there are real concerns that Welsh steel will not receive a fair share of the £2.5 billion steel fund. Today the Secretary of State has announced that the public acquisition of Speciality Steel will be funded from that steel fund. Can the Secretary of State reassure the Welsh steel sector that Wales will get its fair share of the steel fund following today’s announcement?

[Jonathan Reynolds]

Yes. On both a per capita basis and on a straightforward cash basis, Wales had until fairly recently had the lion’s share—the biggest allocations —from Government because of the significance of the transformation programme at Port Talbot, which remains a fundamental part of the steel sector across the UK. Being frank, it is also one of the sector’s success stories: the transformation of Port Talbot is a major project supported by significant public money and significant private capital, and it is exactly the kind of transformation we are seeking in other parts of the UK. It is to the credit of the workforce at Port Talbot that they are at the forefront of this; notwithstanding the difficult issues involved in such a transformation, it is something to be proud of.