Steel Industry

Part of Business, Energy and Industrial Strategy – in the House of Commons on 25th May 2021.

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Photo of Nick Smith Nick Smith Labour, Blaenau Gwent

Sanjeev Gupta promised that none of our steel plants would close on his watch, but after the Serious Fraud Office descended on his empire, the workforce became afraid for their future. The Liberty Steel plant in Tredegar puts food on the table and pays the mortgages of my constituents, and across the country 5,000 families rely on the company. We now need the Government to ensure that these plants remain open, and, crucially, to provide the finance to bridge any transition period should a new buyer or stake purchase be necessary—and, of course, to work with the trade unions to test the commitment of any new buyers. If promises are broken, will the Secretary of State step in with the finance to support our steel communities?