Steel Industry

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

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Photo of Kwasi Kwarteng Kwasi Kwarteng The Secretary of State for Business, Energy and Industrial Strategy

The hon. Gentleman will remember that Mr Gupta asked me and the Department for £170 million. Many Labour Members—dare I say it?—were hollering and screaming and saying we should nationalise. In fact, I would say that my actions and those of officials have been vindicated. There were serious concerns about corporate governance with this company, and Labour Members would do well to understand how to manage public finances with care. Having said all that, I am monitoring the situation closely and I remain strategically committed to the steel industry and this sector.