Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, whether the Treasury has approved funding required for the Steel Strategy.

The Government has committed up to £2.5 billion to rebuild the steel sector, delivered in part through the National Wealth Fund. This is in addition to the £500m we have invested in the transformation of Port Talbot.

We are also committed to delivering a steel strategy. A robust position on trade is a critical element of this strategy, underpinning our approach to defending against unfair practices and global over-capacity. We are prioritising developing robust measures in light of the UK steel safeguard expiring during 2026. These measures will protect our domestic sector, ensuring its future viability and securing steel supply chains. This will follow a Call for Evidence which was open throughout July and sought views from across the steel supply chain on future steel trade measures. We will therefore publish the steel strategy in early 2026.

Where required, we will work with Parliament to implement measures under domestic law.