Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what his planned upper limit is for (a) overall contributions and (b) annual contributions from the public purse for support for the UK steel industry.

The government is committed to providing up to £2.5 billion to support the UK steel industry, which is being delivered in part through the National Wealth Fund and in part through direct support for companies. This is in addition to the £500 million investment for Tata Steel in Port Talbot, bringing the total investment in the steel industry to up to £3 billion. The £3 billion is intended for initiatives such as electric arc furnaces and other improvements to UK capabilities. The annual allocation of these funds will depend on ministerial decisions and on companies meeting delivery milestones.