British Steel Business Plan

Lord Cryer Excerpts

Monday 26th October 2026 Lords Chamber

[Lord Leong (Lab)]

My Lords, I say again that we must support British steel-making while protecting the thousands of businesses that rely on competitively priced steel. Tariffs, CBAM and emissions policies should be proportionate, carefully calibrated and mindful of downstream manufacturers. Equally, taxpayer investment must ensure commercial sustainability and not permanent subsidy.

[Lord Cryer (Lab)]

My Lords, contrary to what has just been said, could my noble friend say something more about how the Government can strengthen British Steel’s position with regard to the flood of very cheap imports coming into the country at the moment that are threatening British jobs?

[Lord Leong (Lab)]

My noble friend is absolutely right. British steel-makers must compete on a fair and level playing field, but we must recognise the serious challenges created by global overcapacity, unfair subsidies and artificially cheap imports. The Government will use all appropriate trade remedies in line with our international obligations to protect British industry from unfair competition. Strengthening domestic demand through infrastructure, investment and procurement opportunities is equally important. Our ambition is therefore very clear. British Steel should have every opportunity to compete, invest and succeed.