Iron and Steel: Coronavirus

(asked on 15th December 2020) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what fiscal steps he is taking to support the recovery of steel supply chains affected by the covid-19 outbreak.


Answered by
Nadhim Zahawi Portrait
Nadhim Zahawi
This question was answered on 23rd December 2020

We have been working with companies across the steel sector and its supply chains to ensure that they can access the unprecedented package of support measures the Government have made available during this challenging time. This includes Government-backed finance through the Coronavirus Business Interruption Loan Scheme and the Bounce Back Loan Scheme to help firms keep operating. We have also provided support through the Coronavirus Job Retention Scheme, which has been extended to March 2021 to protect people’s wages and manufacturing jobs across the UK.

In addition, the Government provided, as a lender of last resort, a £30m loan on commercial terms to Celsa, in line with EU State Aid rules.

We will continue to engage regularly with the steel industry and their suppliers.

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