Prime Minister agrees that more needs to be done to support our steel sector
Steel is vital to our local economy, and is critically important to our whole country - our government must therefore do whatever it can to ensure Stocksbridge continues to be a strategically important steel making town.
The news that HMRC was issuing winding up orders on Liberty Steel was hugely disappointing. Prior to the winding up orders I'd spoken to local managers in Stocksbridge, the Minister for Steel and to the Department for Business, Energy and Industrial Strategy about the process and to determine what support I could offer. Speaking to the Steel Minister, Lee Rowley MP, I also pressed for him to give assurances that, if Speciality Steels were to be forced into administration, the Government would step in to help find a buyer, ensure a smooth transition, and enable the continuation of operations.
I will be meeting with the Secretary of State again to discuss the situation and what actions the Government can take to help secure jobs and the future of the industry. And I will continue to speak to management and unions to offer whatever support I can to employees locally.
Stocksbridge Speciality Steels has unique and strategic capabilities that will be essential for the UK’s infrastructure, nuclear and defence requirements over the coming years, making it an extraordinarily valuable asset of national importance.
On Wednesday February 16, I met with the Minister for Steel, Lee Rowley MP, and other MPs who represent constituencies with Liberty Steel businesses. We discussed the ongoing situation at Liberty - including at Stocksbridge Speciality Steels - again making clear the critical importance of this industry. I was also able to urge Minister Rowley to carefully consider what support the Government may be able to offer following the winding up orders issued by HMRC.
On Wednesday this week I raised my ongoing concerns with the Prime Minister, specifically asking that the Government explores all options to support Speciality Steels, in the same way that they have supported Sheffield Forgemasters and British Steel.
Prime Minister's Questions - February 23
Liberty Speciality Steels is an important steelworks in my Stocksbridge constituency, which produces high-quality steel and has provided high-value jobs for generations. Sadly, following the collapse of Greensill Capital, the parent company Liberty Steel has faced financial uncertainty for some time, threatening the business and thousands of jobs. Does my right hon. Friend agree that the steel industry sits at the heart of our levelling-up agenda, and will he commit to looking at all options to support the business through this period of uncertainty, as the Government have done so effectively for Sheffield Forgemasters and British Steel?
The Prime Minister, Boris Johnson
I thank my hon. Friend for everything she does to champion steel. She is right that it is of strategic importance for our country; we must look at ways we can help the steel industry to have access to cheaper, low-carbon energy, and this Government will do everything we can to ensure that that happens. So far we have provided over £600 million since 2013 to help with the cost of energy and put in a £350 million industrial energy transformation fund, but I stress to the House that that alone will not be enough. As we transition to a low-carbon future, hydrocarbons must also have their place.
