Holly Mumby-Croft
Main Page: Holly Mumby-Croft (Conservative - Scunthorpe)Department Debates - View all Holly Mumby-Croft's debates with the HM Treasury
(1 year, 4 months ago)
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James Cartlidge
That sounds like an interesting idea. I would be more than happy to meet the right hon. Lady.
Holly Mumby-Croft (Scunthorpe) (Con)
I welcome the measures announced today, particularly those relating to energy-intensive industries, and the duration of those measures. I will look very carefully at what has been announced.
The Minister will know that thousands of world-class steelmakers in Scunthorpe are listening carefully to what is being announced. May I press him to look at the evidence over the next 12 months so we can reassure ourselves that our support is in line with that in other countries, and so we know we are providing a level playing field for the domestic steel industry in this country? That is all it asks.
James Cartlidge
My hon. Friend, like her constituency neighbour sitting next to her—my hon. Friend the Member for Brigg and Goole (Andrew Percy)—is a champion for the steel sector. She makes a very good point. I understand the huge importance of the industry to her constituency and hope that it will welcome today’s announcement on the energy and trade-intensive industry support and the additional discounts that will be provided. I should stress that as well as having a more generous discount, the scheme will apply at a lower threshold; that is important.
My hon. Friend makes a really important point about duration. The current £18 billion scheme is for six months; the industry said that it wanted 12 months, and we have delivered that. We absolutely want to look at what more we can do to be internationally competitive.