Judith Cummins supports the amendments introduced by Sarah Olney and elaborates on several additional amendments. She emphasises the need for strict conditions on financial assistance to ensure value for money, limits the amount of financial aid provided per employee over five years (£1 million), prohibits funding from the National Wealth Fund, requires parliamentary scrutiny before financial assistance is given, mandates impact assessments, sets a limit on total compensation and financial assistance (£500m unless otherwise authorised by resolution), and imposes duties to seek private sector buyers for nationalised steel undertakings.
Perkins interjects, asking Judith Cummins about the impact of tariffs on UK manufacturers using steel and whether amendment 6 intends to gather further information on this matter.
Bailey intervenes, expressing concern that amendments like 7 could introduce significant procedural barriers, slowing down the ability to use the bill for critical supply-chain security purposes, particularly for the defence industry.
Welcomes the Government’s steps in the Bill, building on emergency legislation for Scunthorpe. Emphasises the importance of steelmaking to national security and independence. Supports the £2.5 billion investment by the Government to boost the steel industry. Highlights the need for decarbonisation efforts while protecting skills and avoiding deindustrialisation. Raises concerns about unintended consequences of tariffs on British manufacturers using steel, urging careful handling of provisions. Calls for continued support of Scunthorpe’s blast furnace capability.
Urges the maintenance of blast furnace primary steelmaking in Scunthorpe, highlighting its importance to national security and economic stability.
Caithness, Sutherland and Easter Ross
Welcomes the announcement of small modular reactors made from British steel and expresses regret over offshore wind turbines not being built in Britain.
Echoes concerns about the impact of tariffs on SMEs and the broader supply chain, urging consideration of steelmaking strategy from ore to direct reduced iron. Concerned about separating production from China.
Baldwin argues for setting limits on financial assistance and ensuring parliamentary scrutiny through regular reporting. She also proposes a full impact assessment before exercising powers, active seeking of private sector purchasers, and monitoring impacts on inward investment to ensure fair competition and protect investor confidence.
Intervened questioning whether placing limits might be unwise, especially during emergencies where immediate action is needed. This suggests a concern that rigid limitations could impede timely government intervention.
Argued for regular transparency through written ministerial statements every three months, emphasising the importance of protecting taxpayers’ interests and maintaining oversight over public spending.
Asked whether new clause 9 would prevent foreign companies from buying British firms only to close them down, expressing concern about preserving sovereign capability and preventing market-driven closures of critical industry.
Suggested that constant sale potential creates uncertainty for businesses and employees, advocating for stability through experienced businesspeople rather than auditors for strategic judgment.
Eccles opposes new clause 9, which seeks a private buyer for the nationalised British Steel company. She supports nationalisation to safeguard steelmaking capability but warns of potential negative impacts on downstream industries if poorly calibrated changes are made. She also expresses concerns about new clause 12 limiting financial assistance and emphasises the need for green production transition.
Mr Lee Pitcher argued that the amendments would delay urgent work needed to save the steel sector. He emphasised the need for timely action and highlighted the importance of strategic industries like steel, which are crucial for national resilience, energy infrastructure, defence capability, housing construction, and railway renewal.
Mr David Smith interjected to support Mr Lee Pitcher's argument that it is unwise to always revert national assets back into the private sector when previous attempts by private industry have failed.
Member Nash argues against unnecessary restrictions on financial support for emergency situations. She highlights the historical failures of Conservative Governments to adequately support the steel sector, particularly in her constituency. She also emphasises the importance of supporting the Dalzell plate mill in Scotland due to its strategic importance in national defence and infrastructure.
Intervened to question the shadow Minister's stance on parliamentary oversight. He argues that private sector involvement often leads to mismanagement or closure of British steel companies, resulting in loss of sovereign capability.
Argues for a safeguard that would require a parliamentary vote if the proposed consideration for transfer exceeds a certain level. She believes this protects taxpayers' interests and ensures Parliamentary oversight.
Doncaster East and Isle of Axholme
Intervened to emphasise the need for bold decisions that inspire future generations to pursue careers in steel and manufacturing, highlighting the importance of regular income and community support.
Caithness, Sutherland and Easter Ross
Disappointed at the lack of Scottish National Party representation. He questions whether there should be no limit on Government support for steel undertakings.
Romsey and Southampton North
Called for the debate to remain focused on the steel industry rather than discussing new nuclear or Scottish Government policies. She supports the strategic importance of the heavy plate mill in her constituency.
Supports Member Nokes' argument for the strategic importance of steelmaking capability. He criticises previous ownership failures, emphasising the need for aligned owners who care about strategic importance.
Emphasised the need for a focused defence investment plan that benefits steel jobs across the UK, including in Scotland and Teesside.
The Minister thanked Members for their contributions and acknowledged that many proposed amendments and new clauses focused on balancing public money use, parliamentary scrutiny, and commercial demands. He highlighted specific concerns raised by downstream steel companies due to trade measures from 1 July and expressed willingness to engage with businesses and associations to address these issues.
Mr Jopp intervened to discuss a local business, Thames Covers in his constituency, which is concerned about increased costs due to new tariffs on stainless steel tubing from 1 July. He questioned whether the Government's measures might cause unintended consequences.
Mr Waugh intervened to inquire about Hanson Springs in Rochdale, which relies on imports of steel and is concerned about potential tariffs impacting its business operations under the new measures.
Ms Dollimore intervened to request a meeting between her local steel business, Fowle & Co., and officials to discuss sourcing British steel and potential impacts of new tariffs.
Caithness, Sutherland and Easter Ross
Mr Stone suggested that the Minister should consider engaging with the Scottish Government to support his efforts.
Mr Myer questioned whether phasing out free allowances before the new CBAM is fully tested might expose UK industry to carbon leakage and urged for robust design and implementation of the CBAM.
Ms Morden raised concerns about a recent fire at Port Talbot steelworks, expressing gratitude to emergency services and workers. She highlighted the importance of protecting jobs in the south Wales steel industry as part of supporting its expansion.
Romsey and Southampton North
Ms Nokes intervened to remind that the debate was about nationalisation of the steel industry, not tariffs. She later stated that she would allow the Minister to respond but warned against turning the debate into one on tariffs impacting individual companies around the country.
Ms Olney withdrew amendment 7 without discussion.
She argues that the Bill is a chaotic intervention without a clear steel industrial strategy, risking taxpayer liability and undermining investor confidence. She highlights ongoing costs since last year's intervention and concerns over nationalisation transferring financial burdens to taxpayers.
Argued against the Conservatives' inaction during the steel crisis, emphasising the importance of protecting essential industries for community wellbeing and economic growth. Cited the loss of 170-year-old industry jobs and supply chain impacts as evidence of past government failures.
Supports the Bill despite personal reservations about nationalisation, citing the unsustainable nature of current ownership and the need to protect jobs in Scunthorpe. Acknowledged meetings with the Minister regarding potential private sector involvement and expressed cautious optimism for the future.
Welcomed contributions from both sides, particularly highlighting the positive impact of government support on British steel jobs. Emphasised the broader significance for ambition in creating quality jobs and thanked contributors for supporting affected communities.