Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Steel Industry

Part of the debate – in the House of Commons at 12:09 pm on 26th May 2016.

Alert me about debates like this

Photo of Geraint Davies Geraint Davies Parliamentary Assembly of the Council of Europe (Substitute Member) 12:09 pm, 26th May 2016

Five years ago, I asked the Prime Minister at Prime Minister’s Question Time whether he understood that the Chancellor—he is just taking his seat—

“unilaterally setting the minimum price for carbon in Britain will drive out inward investors such as Tata Steel” in Swansea Bay. He responded:

“I will of course listen to the hon. Gentleman, but I think that Ratan Tata knows a bit more about his business than he does.”—[Official Report, 30 March 2011;
Vol. 526, c. 338.]

Having failed Tata, will the Secretary of State now promise, first, fully to fund the pension fund, indexed to RPI, so that we do not short-change pensioners or cause contagion in the pension industry; and, secondly, to ensure a 25% Government share for the long run so that investors, whether Tata or others, have confidence investing in the future—