Sarah Jones

Sarah Jones

Labour — Croydon West

Speaking in the House of Commons on 2 September 2025

Debate

Speciality Steel UK: Insolvency

Contribution

Thank you, Mr Speaker. I shall just explain to the shadow Minister how the system works. The Government have not taken over control. That is not the process of the official receiver. The official receiver was appointed following a court case which began in 2024. It has been a very long and arduous case. The hon. Gentleman will hopefully understand that I cannot set out the cost of the official receiver at this point because the official receiver has only just begun his work. It is very early days and we cannot be specific. We know the numbers will be in the millions, as opposed to anything more substantial, because the company is not operating in and of itself. What we are doing is ensuring that the salaries are paid, which I hope the whole House would agree is the right thing to do. Companies will be coming forward and expressing an interest in buying parts of the company, and it will be for the official receiver to look at that and see what process we should go through, but I cannot give the hon. Gentleman the actual numbers on that. I hope the whole House will understand why not. On the shadow Minister’s wider point, if this Government had not intervened, thousands of people would have lost their livelihoods in Scunthorpe; that is a fact. If this Government had not intervened, we would not have had a better deal for the workers in Port Talbot, we would not have been there supporting them in the transition, and we would not be there supporting the building of the electric arc furnace, which began back in July. The shadow Minister asked what this Government have already done. We have already changed the rules on procurement. I have worked closely with colleagues in the Cabinet Office on that to ensure that where Government are spending money, we are spending on British business where we can—something his Government failed to do. On energy prices, we have committed to lowering prices through the reduction in costs that will come from the expansion of the super-charger—something his Government failed to do. We are working on a bold strategy, which we will publish this year, that will build on that. Whether on trade protections—on which we have already taken measures—our scrap policy, R&D, jobs, apprenticeships or skills, we will have a bold strategy because we believe in steel, unlike the previous Government, who said that manufacturing is a Victorian pursuit best left to the Chinese. We do not agree with that approach.

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