British Steel

Peter Kyle Excerpts

Wednesday 24th July 2019 Commons Chamber

[Greg Clark]

I gently say to the hon. Gentleman that that message should be conveyed to all Members of the House who did not vote for a deal that would have provided, as British steel advised, the ability to trade in that way. My views on the desirability—in fact, the imperative—of having a good deal that allows us to trade without introducing barriers and frictions are well known to the House, and indeed beyond. What I will say is that at this time, when potential purchasers are considering British steel, actually it is not the case that the steel industry would not have a future in the event of different forms of Brexit. It is very important to convey to prospective buyers the fact that the industry that exists, with its opportunities domestically and internationally, and with the quality of its workforce and of its steel production, is attractive in itself and will not be trumped by the Brexit settlement. It is important that those prospective buyers have confidence, as some of them have having done their due diligence, that this is a good investment in all circumstances.

[Peter Kyle (Hove) (Lab)]

May I first thank my hon. Friend the Member for Redcar (Anna Turley) for her advocacy in the Chamber and—those of us who also know her as a friend know this—for her tireless activism on behalf of the steel sector, which has no better advocate? I also thank the Secretary of State; in a time of upheaval on the Government Front Bench, I hope that one point of consistency will be his position there. He has explained in the past, and in many appearances here in the Chamber, that the steel sector does not quite fit the criteria for a sector deal. Does that mean that we need to look at how the sector deals themselves are operating, to see whether they could be tailored to support such a vital industry?

[Greg Clark]

I am grateful to the hon. Gentleman for his kind words. It is not that the sector deals do not fit at all; it is that that would require investment on behalf of the industry, the players in the sector, and in recent years that investment in the future has not been as readily available or forthcoming as it has been in other industries. I hope that will change. I have a big appetite to invest alongside the sector, as we do in others, so there is absolutely no question but that it is available, and I hope that we will be able to conclude one very quickly.