The government is taking decisive action to strengthen the UK’s economic security and deliver growth in an increasingly contested and uncertain global economy.

As the UK’s export credit agency, UK Export Finance (UKEF) drives growth by helping businesses across the country win contracts overseas, expand into new markets, and sustain high...

The government is taking decisive action to strengthen the UK’s economic security and deliver growth in an increasingly contested and uncertain global economy.

As the UK’s export credit agency, UK Export Finance (UKEF) drives growth by helping businesses across the country win contracts overseas, expand into new markets, and sustain high...

My Rt Hon Friend the Secretary of State for Business and Trade and President of the Board of Trade (Peter Kyle MP) has today made the following statement.

The government is taking decisive action to strengthen the UK’s economic security and deliver growth in an increasingly contested and uncertain global economy.

As...

My Rt Hon Friend the Secretary of State for Business and Trade and President of the Board of Trade (Peter Kyle MP) has today made the following statement.

The government is taking decisive action to strengthen the UK’s economic security and deliver growth in an increasingly contested and uncertain global economy.

As...

To ask the Secretary of State for Business and Trade, what steps his Department is taking to improve export finance support for UK nuclear technology companies seeking overseas contracts.

To ask the Secretary of State for Business and Trade, what steps his Department is taking to improve export finance support for UK nuclear technology companies seeking overseas contracts.

I thank the noble Lord for his questions. On the effectiveness of electric arc furnaces, there are a couple of points. First, at Sheffield Forgemasters, we see the technical capability to produce steel to the highest quality, for the nuclear industry, aerospace and defence. Independent experts’ view is that any...

I thank the noble Lord for his questions. On the effectiveness of electric arc furnaces, there are a couple of points. First, at Sheffield Forgemasters, we see the technical capability to produce steel to the highest quality, for the nuclear industry, aerospace and defence. Independent experts’ view is that any...

We engaged carefully with the industry in constructing these tariffs, and we will review the measure after 12 months to ensure it remains effective.

We engaged carefully with the industry in constructing these tariffs, and we will review the measure after 12 months to ensure it remains effective.

We are still in discussions with much of the sector, explaining what the precise tariffs mean across different sub-sectors, and we are gaining feedback following the publication. We continue to work across many sub-sectors and business areas on implementing the trade measure ahead of 1 July, and we will consider...

We are still in discussions with much of the sector, explaining what the precise tariffs mean across different sub-sectors, and we are gaining feedback following the publication. We continue to work across many sub-sectors and business areas on implementing the trade measure ahead of 1 July, and we will consider...

Lords statement on the Government's steel strategy.

Lords statement on the Government's steel strategy.

My Lords, only last year Ministers were forced to rush through the Steel Industry (Special Measures) Act, which was an emergency nationalisation of British Steel in an industry that they had helped to destabilise. That Act told us everything we need to know—socialists must seize the means of production because...

My Lords, only last year Ministers were forced to rush through the Steel Industry (Special Measures) Act, which was an emergency nationalisation of British Steel in an industry that they had helped to destabilise. That Act told us everything we need to know—socialists must seize the means of production because...

My Lords, I thank the Minister for the Statement and welcome that there is a strategy here, although, as the noble Lord, Lord Sharpe, said, we were expecting it for some time. However, given what is happening in the world, reading this document conjures the image of someone trying to...

My Lords, I thank the Minister for the Statement and welcome that there is a strategy here, although, as the noble Lord, Lord Sharpe, said, we were expecting it for some time. However, given what is happening in the world, reading this document conjures the image of someone trying to...

I thank noble Lords for their rich contributions. They have raised many matters that are covered in the steel strategy and are of vital importance to the future of steel-making and its centrality to the UK’s economic success.

This steel strategy is the first one to be set out. It explains...

I thank noble Lords for their rich contributions. They have raised many matters that are covered in the steel strategy and are of vital importance to the future of steel-making and its centrality to the UK’s economic success.

This steel strategy is the first one to be set out. It explains...

My Lords, I thank the Minister for her Statement, delivered persuasively and helpfully. What good news might be given for the steelworkers of Wales? We once had a mighty industry, up until the late 1970s. Not any more. We employed tens of thousands in that once-great industry.

The ministerial foreword by...

My Lords, I thank the Minister for her Statement, delivered persuasively and helpfully. What good news might be given for the steelworkers of Wales? We once had a mighty industry, up until the late 1970s. Not any more. We employed tens of thousands in that once-great industry.

The ministerial foreword by...

Question!

Question!

I ask, for Wales, if the Minister can help.

I ask, for Wales, if the Minister can help.

My noble friend brings his experience and wisdom to the House. Welsh steel is expected to account for half of future UK steelmaking. As he will be aware, we have also invested £500 million in the electric arc furnace in Port Talbot. In addition to that, the Secretary of State...

My noble friend brings his experience and wisdom to the House. Welsh steel is expected to account for half of future UK steelmaking. As he will be aware, we have also invested £500 million in the electric arc furnace in Port Talbot. In addition to that, the Secretary of State...

My Lords, for seven years I was privileged to be the Bishop of Sheffield, and I am familiar with the complex ecology of south Yorkshire, articulated by the noble Lord, Lord Fox. For those seven years, each year I was the guest of the Cutlers Company, who would invite a...

My Lords, for seven years I was privileged to be the Bishop of Sheffield, and I am familiar with the complex ecology of south Yorkshire, articulated by the noble Lord, Lord Fox. For those seven years, each year I was the guest of the Cutlers Company, who would invite a...

The right reverend Prelate raises some important issues. There are two elements here in respect of energy prices. The first is the immediate action we are taking, including the supercharger, to support the steel industry now. The second is the investment we are making in renewable energy, clean power and...

The right reverend Prelate raises some important issues. There are two elements here in respect of energy prices. The first is the immediate action we are taking, including the supercharger, to support the steel industry now. The second is the investment we are making in renewable energy, clean power and...

My Lords, the Minister knows that tariffs are a tax paid by the consumers of the steel that will be introduced. I have looked carefully in the steel strategy, and I cannot see any analysis of the impact of those increased costs on either our domestic construction sector or our...

My Lords, the Minister knows that tariffs are a tax paid by the consumers of the steel that will be introduced. I have looked carefully in the steel strategy, and I cannot see any analysis of the impact of those increased costs on either our domestic construction sector or our...

My Lords, the Statement says:

“Britain can recycle more steel. Making better use of scrap steel is fundamental to the sector’s future growth”.

However, I am sure the Minister is aware that, currently, four-fifths of the UK’s scrap steel is exported, primarily to non-OECD countries with far lower environmental standards than us....

My Lords, the Statement says:

“Britain can recycle more steel. Making better use of scrap steel is fundamental to the sector’s future growth”.

However, I am sure the Minister is aware that, currently, four-fifths of the UK’s scrap steel is exported, primarily to non-OECD countries with far lower environmental standards than us....