Jonathan Reynolds

Jonathan Reynolds

Labour (Co-op) — Stalybridge and Hyde

Speaking in the House of Commons on 12 April 2025

Debate

Steel Industry (Special Measures) Bill

Contribution

To be clear, where there is a transfer of ownership to the state, we would always pay the fair market value for the assets. In this case, the market value is effectively zero, so I take the right hon. Gentleman’s point entirely. I would say that the intention of Jingye has not been to engineer that situation; its intention has been to keep the downstream mills, which colleagues will know are fundamental to our construction and steel industries, and supply them from China, rather than from Scunthorpe; that is the situation.

More from Jonathan Reynolds

Other recent Hansard contributions by the same speaker.

About Hansard

Hansard is the official verbatim record of proceedings in the UK Parliament. Every word spoken in the Commons and Lords is recorded and published — this page is a single contribution from that record.

For Jonathan Reynolds's full parliamentary record including voting history, expenses and all other contributions, see the Jonathan Reynolds report card.