Stephen Kinnock
Main Page: Stephen Kinnock (Labour - Aberafan Maesteg)Department Debates - View all Stephen Kinnock's debates with the HM Treasury
(3 years, 6 months ago)
Commons ChamberMy hon. Friend is absolutely right and I congratulate everyone involved in the Solent freeport bid. This Government are using freeports to boost jobs, investment, trade and growth. Local communities, from Merseyside to Teesside, Humber and indeed the Solent, all agree with us and it is a shame that the Labour party does not support their aspirations.
There are global challenges in the steel industry, with vast overcapacity and supply outstripping demand. However, the Government have supported the steel sector extensively, including providing more than £500 million in recent years to help with the cost of energy. Our unprecedented package of covid support is still available to the sector to protect jobs and ensure that producers have the right support during this challenging time.
Steel is central in terms of good jobs, national security and combating climate change. There can be no post-pandemic economic recovery without a strong and healthy steel industry. Will the Chancellor therefore commit today to recognising the pivotal strategic importance of the steel industry by using the power of the Treasury to reduce the exorbitant electricity prices faced by our steelmakers—currently 82% higher than in Germany—so that our steel industry can compete on a level playing field?