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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential merits of creating a more sustainable steel industry with a focus on recycling steel.

We are working with the sector, the unions and devolved administrations to support the UK steel industry to develop a long-term sustainable solution for the UK steel industry. The Department commissioned independent research to identify high value opportunities for UK steel, worth up to £3.8 billion a year by 2030.

In the 2018 Budget, my rt. hon. Friend Mr Chancellor of the Exchequer announced an Industrial Energy Transformation Fund with investment of £315 million to help businesses with high energy use to cut their bills and transition UK industry to a low carbon future. Through the Industrial Strategy Challenge Fund, we are also providing up to £66 million, subject to industry co-funding, to transform foundation industries which includes steel, to develop radical new technologies and establish innovation centres of excellence in these sectors.