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

I think my hon. Friend refers to clause 7, which deals with compensation. Again, let me be clear: this is a clause that we would put in any Bill. We are not Russia, and we do not sequester assets. The language in the clause—the legal definition—is something that we would use in most standard procedures. Going back to the question from the right hon. Member for Goole and Pocklington (David Davis), the effective market value of Jingye is zero, so there is no inconsistency between those two points.

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