Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps he is taking to support growth in the UK steel industry.

Steel is one of the Government’s top priorities. We are continuing to develop our upcoming steel strategy which will articulate what is needed to create a competitive business environment in the UK with the aim of attracting new private investment.

We remain committed to providing up to £2.5bn for the steel sector, which will be delivered though the National Wealth Fund and other routes. We are developing our thinking on how this funding will be aligned with the steel strategy.

The National Wealth Fund is operationally independent, and financing is already accessible to projects that meet the investment principles.