British Steel: EU Emissions Trading Compliance

Mike Penning Excerpts

Wednesday 1st May 2019 Commons Chamber

[Greg Clark]

The hon. Gentleman is right that we need to be vigorous in our trade defence mechanisms. Steel is a sector that all Members know is subject, and has been over the years, to dumping by global competitors. Through the G20 forum in particular, at which I have represented our country, we have been vigorous in pressing for the strongest measures against anti-competitive practices such as that, and we will continue to do so in the future.

[Sir Mike Penning (Hemel Hempstead) (Con)]

I apologise for not bobbing, Mr Speaker; my back is showing my age and its abuse on the rugby field over the years, so I waited until the very last moment.

I think the Secretary of State has handled this brilliantly well. There was a danger that we stepped in really early on, as suggested by Opposition Members. The market needs to sort this—companies have obligations—and only as a last resort should taxpayers’ money be brought into the equation.

[Greg Clark]

I am grateful to my right hon. Friend. He is absolutely right, and I do not want to say from the Dispatch Box that I have engaged again in this type of transaction. The obligations are with the company, and it would obviously have been much better had it been able to discharge them itself. However, sometimes we have to take decisions in office based on the evidence of the consequences. I felt, and was supported by advice that I received, that the responsible action in this case was to make this facility available, with the security that we have obtained, and to do so in time to allow the company to meet its obligations by the deadline.