British steel, administration, Gill Furniss
© Oleg Yermolov

Gill Furniss asked the Government to make a statement following media reports that British Steel is on the verge of administration

The Government made a one-off payment to the company earlier this month, to enable the company to pay its EU Carbon Bill as Brexit uncertainty prevented it from participating in the carbon credit scheme.

Transcripts of proceedings are available via Hansard, three hours after they conclude in the Chamber.

Following the Government’s statement on May 1st, the Parliamentary under-secretary for the department for Business, Energy and Industrial Strategy, Andrew Stephenson, said: “The speculation regarding the future of British Steel will no doubt be creating uncertainty for those employed by the company.

“As shown through the ETS agreement, the Government has been willing to act. We have been in ongoing discussions with the company and I am sure the House will understand that we cannot comment in details at this stage.

“We will, however, update the House when there is more information available. I can, however, reassure the House that subject to strict legal bounds the Government will leave no stone unturned in its support for the steel industry.”

Responding for the opposition, shadow minister for Business, Energy and Industrial Strategy, Gill Furniss, said: “The steel sector is facing a myriad of issues from values of sterling and the uncertainty around future trading with the EU through to US trade tariffs.

“The Government could have taken such steps as greater procurement of UK steel; agreeing with a sector deal as the industry was requesting and taking action on energy prices. Does the Minister accept that this Government has simply failed to take the steps necessary to ensure that UK steel remains competitive?”

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