Steel Industry

Sammy Wilson Excerpts

Tuesday 20th October 2015 Commons Chamber

[Sajid Javid]

My hon. Friend makes a good suggestion. As part of our approach to procurement, that is exactly what we are looking at. One thing that came out of the summit was that the industry understandably wants certainty about future demand. There is a commitment from the Government on major infrastructure projects involving HS2, aviation capacity, civil nuclear power and Trident, and if that kind of commitment could be more cross-party, it would help to provide that certainty.

[Sammy Wilson (East Antrim) (DUP)]

The crisis in the steel industry has been caused not only by the fall in world demand but by the increase in the costs imposed on producers in the UK because of green energy policies that have put electricity prices up by twice those of our competitors. Can the Minister really justify fiscal policies such as the carbon floor price, which are designed to cut carbon dioxide emissions, while we are exporting jobs to countries that are more interested in the health of their economy than in King Canute’s attempts to change the world’s climate?

[Sajid Javid]

The hon. Gentleman is absolutely right to raise this matter, which goes to the heart of one of the competitiveness issues facing the industry—namely, the relatively high energy costs. Some of those costs are imposed here domestically, and some are imposed directly through EU policies. Where we can take action, such as through the compensation package, we are doing so. I hope I can assure him that we want to pay more of the compensation that we have already announced as quickly as possible. That is why we want to get EU approval as quickly as possible.