Steel Industry
Debate between Jessica Morden and Sajid Javid
Sajid Javid
That is an important point: energy costs are important for all energy-intensives, including steel, ceramics and many other industries. We have already introduced compensation for the green policy costs to industry, and that already saves the steel industry, including Tata Steel, £80 million, and we are now moving further towards an exemption, which could save another £400 million by the end of this Parliament.
Jessica Morden (Newport East) (Lab)
As well as yesterday’s march, Nissan held an event in Parliament celebrating the excellence of the supply chain, which includes the Zodiac line in Llanwern, and highlighting the skill and dedication of the workforce. In these difficult times, will the Secretary of State be specific about what Ministers are doing to ensure that customer confidence is being maintained?
Sajid Javid
Unfortunately I missed that exhibition because I was not here, but my right hon. Friend the small business Minister attended it and I agree with the hon. Lady about the Zodiac line’s importance to our excellent automotive industry. We have been in touch with Nissan and, indeed, all our other major auto producers, as well as many other companies that rely on British steel, particularly from Tata’s operations. We have been making sure that they have confidence in the sales process so that they can be secure that the supply will be there for the long term.
UK Steel Industry
Debate between Jessica Morden and Sajid Javid
Sajid Javid
I always listen carefully to what my hon. Friend has to say. He is a respected member of the BIS Committee and he has deep experience in business. He is right to highlight tariffs. The concern for any Government is always to strike the right balance in taking action where there is clear evidence of dumping and unfair trading, but not going any further than that, because the people who pay the cost are consumers. Such measures are like a tax; they are hardly progressive and the poorest are hit the hardest.
Jessica Morden (Newport East) (Lab)
Steelworkers watching this debate—including those from Llanwern and Orb in Newport, who have travelled here today as they have many times to press the Government for more action to help the industry—are asking that their businesses, with full order books and assets such as the Zodiac line in Newport, remain saleable in this crisis; that the Government act on the pension fund; and that there is a long-term industrial strategy to give potential buyers confidence. The Secretary of State’s statement has not made clearer what practical measures he will take to do that. Please will he expand on that now?
Sajid Javid
The hon. Lady is right to raise her and her constituents’ concerns. I reassure her that we are looking at everything. I think she is aware of much of the action we have taken, but I am sure she understands that there is no magic wand here. No Government can make these problems go away overnight. These are international challenges—just in the last few days we have heard about problems in the US, Australia and many other developed economies. If she respects that, she will work with us on trying to find long-term solutions.