Clause 73 - Transitioned trade remedies: decisions by Secretary of State

Part of Finance (No. 2) Bill – in a Public Bill Committee at 4:45 pm on 5 January 2022.

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Photo of Lucy Frazer Lucy Frazer The Financial Secretary to the Treasury 4:45, 5 January 2022

That is very kind, Dame Angela. I want to correct a general point that the hon. Lady made in relation to steel and the decision that was made by the then Secretary of State for International Trade. The hon. Lady suggested that there was a U-turn and that pressure was put on by the Labour party. In fact, there was no decision by the Government; the decision was made by the Trade Remedies Authority. I just wanted to clarify that point.

The hon. Lady also talked about support for industry. In making that decision there was, of course, support for the steel industry, but we know that the Chancellor has supported industry in a broad sense, with £400 billion coming into the economy to protect businesses, large and small, across the country over the last 18 months.

The hon. Lady made a specific point about how the regulations will be used, and I will get back to her on that issue in writing.