My hon. Friend has anticipated a point in my speech that I was coming to in a few minutes. He is absolutely right that, just in July this year, the EU started a formal consultation on the implementation of the border carbon adjustment process for the entire European Union—and not just there, but he will have to wait a moment or two before I come on to the other exciting news.
Let us look at steel. We can get a huge amount of tax benefit, plus increased competition, that will give a fair, competitive advantage to our domestic steel.