Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps his Department plans to take to maximise the value for money from public funding for the steel industry over the next five years.

The Government is developing a steel strategy, in partnership with the steel sector and trade unions, that will set out a long-term vision for steel and create opportunities for public and private investment.

We have committed to providing up to £2.5bn for steel which will be available through the National Wealth Fund and other routes. This is in addition to the £500m for Tata at Port Talbot steelworks. When designing how best to invest this money, we will consider a range of factors, including leveraging private sector investment and making the UK a great place to invest.