Oral Answers to Questions
Debate between Miriam Cates and Graham Stuart(3 years, 2 months ago)
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Miriam Cates (Penistone and Stocksbridge) (Con)
The Parliamentary Under-Secretary of State for International Trade (Graham Stuart)
Driving access for UK exporters to high growth markets worldwide is at the heart of this Department’s work, securing new free trade agreements, removing trade barriers and informing, encouraging, connecting and financing exporters. Ninety per cent of global growth—90%—over the coming years is expected to be outside Europe, so that is why we are hitching UK business to the fastest growing markets and have recently applied to join the CPTPP.
Miriam Cates [V]
Steel manufacturers such as Liberty Speciality Steels in Stocksbridge produce high-quality components that are used across the world. Steel produced in Europe has half the carbon footprint of equivalent Chinese imports, and, as countries follow the UK’s lead in reducing emissions demands, demand for green steel will increase. How will my hon. Friend ensure that UK manufacturers such as Liberty Speciality Steels in Stocksbridge can capitalise on this growing market and make global Britain the world leader in green steel?
Graham Stuart
I thank my hon. Friend for that excellent question. There is a real opportunity here, is there not? That is why the Government have a range of schemes in place to help the steel sector to expand its green exports into those growing global markets. That includes establishing a £250 million clean steel fund and providing £66 million through the industrial strategy challenge fund to help steel manufacturers to develop radical new technologies and establish innovation centres of excellence. These funds will be accessible to all UK steel manufacturers, including those in my hon. Friend’s constituency, which I am sure value her long-standing commitment to the sector, and her permanent and regular efforts to raise them in the House.