Net Zero Strategy and Heat and Buildings Strategy

Nick Smith Excerpts

Tuesday 19th October 2021 Commons Chamber

[Greg Hands]

My hon. Friend and I spent many happy, productive years working together in the Department for International Trade to market our technological breakthroughs in clean energy, particularly in offshore wind. He makes an extremely strong point about CCUS. When I talk to people in the sector, one of the points they make most frequently is about the UK’s ability to be an early mover, to get in quickly and to take advantage of export capabilities. I completely agree and commend my hon. Friend for the work he did over quite some time as our exports Minister.

[Nick Smith (Blaenau Gwent) (Lab)]

The steel industry’s transition to net zero requires £6 billion of investment, yet the clean steel fund provides only 4% of that. Does the Minister really think that is enough?

[Greg Hands]

We are in constant dialogue with the steel sector, and the hon. Gentleman and I both know that half of steel production and half the jobs in the sector were lost under the last Labour Government. Steel has been facing worldwide pressure for some years, but we are strongly supportive of the UK steel sector. The Secretary of State and the Under-Secretary of State for Business, Energy and Industrial Strategy, my hon. Friend the Member for North East Derbyshire (Lee Rowley), who now has responsibility for steel, frequently engage with the sector. We continually speak to the sector and will keep the House informed. Personally, I think our £350 million industrial energy transformation fund is a considerable commitment to the sector.