Andrew Griffith

We have a plan for sustainable steelmaking. The Government do not have a plan for sustainable steelmaking. Ministers themselves have admitted that the blast furnaces in Scunthorpe will close. They are reverting to a plan that already exists. The Bill is an indictment of this Government’s modus operandi—a spray and pray Government who write blank cheques from the taxpayer and call that a strategy. We are doomed to relearn the hard lessons of the 1970s: if it moves, tax the hell out of it; when it stops moving, subsidise it. It was socialist idol Tony Benn who wanted to nationalise everything that moved, and one result that the Government may care to look at was the state-owned Kirkby Manufacturing and Engineering company, which simultaneously made car radiators and orange juice. When the Government last ran British Steel in the late 1970s, the company’s losses hit £1.3 billion a year. Since Labour’s botched nationalisation of just a year ago, it has already spent £500 million of taxpayers’ money—£1.3 million a day. Where is the Government’s published, costed and scrutinised plan for what nationalised British Steel will look like in five years’ time, or even in one year’s time? I have read the Bill and there is not one. There is no provision for a proper impact assessment before the sweeping powers are used. There is no acknowledgment of the monumental decommissioning liabilities—in the billions—that will sit on the Treasury’s balance sheet. There is a sunset clause, but it can be extended indefinitely by Ministers—a sunset where the sun never sets. The House deserves better than this. We deserve a Bill with a proper thought-through plan. The Government have turned a negotiation into a crisis, a crisis into an emergency and an emergency into this nationalisation. We know that Ministers, however well-meaning, will be unable to resist using their power to tilt the playing field in favour of steel businesses that they themselves own: no longer the referee, they will be on the pitch wearing one of the teams’ shirts. There is no better example of that than their plans on steel tariffs.