Jeremy Lefroy
Main Page: Jeremy Lefroy (Conservative - Stafford)(9 years, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text
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Matthew Hancock
We are absolutely clear that the potential of the future for steel making in the UK is bright. We have taken action to remove some of the barriers that were put in place by the previous Government. I therefore reject the overly partisan tone that has been taken at times, not least because of the amount of work that has been put in to make sure that we have a strong and bright potential future. That involves, for instance, not just the changes to the takeover code, but the substance of ensuring that it is more competitive to make steel in the UK.
Jeremy Lefroy (Stafford) (Con)
I am extremely concerned about this situation. Steel is absolutely vital for manufacturing businesses in my county of Staffordshire, such as JCB, Alstom, Jaguar Land Rover and many others. It is critical that this core capacity is retained. What work is the Department for Business, Innovation and Skills doing to encourage British businesses to invest in the steel industry, given that the UK has one of the world’s premier centres of capital-raising in the City of London?
Matthew Hancock
In the question lies part of the answer. We have great capacity for production in the UK of products that require steel. There is, therefore, a strong market. Through our industrial strategies, we make sure that we are taking a broad approach to bringing together suppliers in different industries and making sure that all of those opportunities are available. I return to the answer I gave to the hon. Member for Scunthorpe (Nic Dakin). We cannot close the borders, but what we can do is make sure that UK companies are in a good position to bid for those contracts.