British Steel

Part of the debate – in the House of Commons at 1:05 pm on 24th July 2019.

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Photo of Paul Sweeney Paul Sweeney Shadow Minister (Scotland) 1:05 pm, 24th July 2019

The Secretary of State has acknowledged that the closure of a major steelworks is an intergenerational blight, as we have seen with the closure of Redcar and of Ravenscraig, which is still a wasteland 30 years on. It is therefore critical that we maintain long-term planning in the sector. That is aided by patient finance. Access to patient finance in this country is very poor compared with some of our peer nations, notably Germany. What will he do to improve patient finance access for the huge capital investment needed in the steel industry, in order to improve the attractiveness of British Steel to potential investors?