Steel Safeguards

Part of the debate – in the House of Commons at 12:43 pm on 29th June 2022.

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Photo of Anne-Marie Trevelyan Anne-Marie Trevelyan The Secretary of State for International Trade and President of the Board of Trade 12:43 pm, 29th June 2022

As the right hon. Gentleman says, the safeguards will be in place until June 2024, and we will obviously need to act in concert with our international partners and our domestic steel sector to find longer-term solutions. The energy security strategy that the Government announced a few weeks ago includes an extension and an increase of the compensation for energy-intensive industries, including steel, to help with the current incredibly high electricity prices.

The right hon. Gentleman is right that, as part of the 10-point plan set out by the Prime Minister back in 2020 and the work the Government have continued to do to be at the forefront of solving some of the net zero challenges, of which steel is at the heart of so many, the Government will continue to work with the industry to find long-term solutions both through technological change and through developing clean steel. Hydrogen and other potential energy solutions are currently part of that mix.