Steel Industry

Part of Oral Answers to Questions — Trade and Industry – in the House of Commons at 10:30 am on 22 March 2007.

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Photo of Nicholas Winterton Nicholas Winterton Conservative, Macclesfield 10:30, 22 March 2007

While I accept that we are in a global trading situation, I do not share the views of Dr. Kumar. It is extremely dangerous that our strategic industries are being acquired by overseas interests. Corus is not the only one: more industries in this country have been acquired by overseas interests than is the case with virtually any other country in the EU or elsewhere in the world. Does the Minister accept that the remittances and profits are sent overseas and so do not benefit the UK Exchequer or taxpayer? Does he also agree that jobs can be transferred abroad extremely easily?

Minister

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