British Steel

Lord Hannan of Kingsclere Excerpts

Wednesday 8th November 2023 Lords Chamber

[The Earl of Minto (Con)]

My Lords, I do not think I said that we are throwing employees into a wide market. In fact, I think I said that we would provide support to see them through the transition. We have a fair and open market for Chinese investment in this country. It is a major world trading relationship and, while I understand some of the political issues behind it, just to avoid a country of that weight is slightly isolationist.

[Lord Hannan of Kingsclere (Con)]

My Lords, will my noble friend the Minister confirm that the industries that use steel employ many more people than the industries that make steel? We have 34,000 steelworkers and 176,000 people making cars. We have the better part of 0.5 million working in agriculture and 2 million working in construction. The way to protect jobs is to bring the price of steel down, not raise it. Will my noble friend confirm that our Trade Remedies Authority found no case whatever for the tariffs that we have inherited from the EU and continue to maintain on imported steel? Will he make clear that the way to make this country competitive is to remove excess costs on energy so that our industry can compete? By the way, we are still our own biggest supplier by far, and no foreign country accounts for more than 14% of our imports.

[The Earl of Minto (Con)]

That was a very detailed question indeed, with which I entirely agree.