British Steel Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Jonathan Edwards
Main Page: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)Department Debates - View all Jonathan Edwards's debates with the Department for Business, Energy and Industrial Strategy
(4 years, 11 months ago)
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Andrew Stephenson
Delivering a negotiated deal from the EU remains the Government’s top priority, and I hope Members will vote for the deal. My hon. Friend is exactly correct: nationalisation is not the solution. If the business were nationalised, the exact same domestic and European laws would apply.
Jonathan Edwards (Carmarthen East and Dinefwr) (PC)
According to the BBC, 95% of the rail used by Network Rail comes from the Scunthorpe plant. Instead of bailing out what is essentially a private equity firm, will the British Government not consider taking a direct equity share in the company, or, if it goes into administration, creating an arm’s length publicly owned company to take over the plant?
Andrew Stephenson
Any support for any business in the steel sector has to be commercial, to fulfil state aid rules. Whatever support is provided to any steel company has to stack up on that basis. However this is done, and whether we take a stake in the company or not, this has to be done on a commercial basis.