Steel Industry Debate

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Stephen Kinnock

Main Page: Stephen Kinnock (Labour - Aberavon)
Tuesday 20th October 2015

(8 years, 6 months ago)

Commons Chamber
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Sajid Javid Portrait Sajid Javid
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This is an opportunity to remind the hon. Lady of action that has already been taken—for example, the compensation of more than £50 million already provided to the steel industry for higher energy costs, and our becoming the first of all 28 EU member states to adopt new procurement rules, which will give us the kind of flexibility that I know she wants to see.

Stephen Kinnock Portrait Stephen Kinnock (Aberavon) (Lab)
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The Secretary of State will be aware that the hard closure of the Redcar steelworks will cost hundreds of millions of pounds to secure the assets that are there, and the continued bad news on closures will cost hundreds of millions of pounds more, potentially running into billions. Has he shared this information with the Chancellor of the Exchequer? Does the Chancellor understand the impact this will have on his much vaunted deficit reduction plans?

Sajid Javid Portrait Sajid Javid
- Hansard - - - Excerpts

Of course the sad closure of the steelworks—the coking facilities—at Redcar is well known and understood throughout the Government, and every Department that needs to be involved in providing support and help is involved.