Chris McDonald

Chris McDonald

Labour — Stockton North

Speaking in the House of Commons on 9 June 2026

Debate

Steel Industry (Nationalisation) Bill

Contribution

I am always very happy to receive help from everywhere, but the Scottish Government could help themselves by taking a more proactive approach to nuclear, as the hon. Gentleman identified earlier. The Scottish economy could benefit from that. Let me make some progress. I want to turn to the parts of the Bill that Members have raised in the debate, and thank the hon. Member for Richmond Park (Sarah Olney) and the shadow Minister for the amendments they have tabled. Amendment 4 was one of the amendments intended to extend reporting requirements around financial assistance and compensation under section 52. In the case of compensation, that is of course a one-off payment and so the question of regular reporting does not arise. On the amendments tabled by the Liberal Democrats, to which the hon. Lady spoke earlier, amendment 6 is about taking into account ETS, CBAM and so on in valuations. A number of comments were made about valuations and the role of the independent valuer, which we will also touch on when we consider the new clauses on capping compensation. It is particularly important that we draw a distinction between the role of Government and that of the independent valuer here, which goes back to some of the concerns raised by the hon. Member for West Worcestershire. It is a serious and rare intervention that the Government are making, and one that should happen only when there is a market failure or a company is in distress.

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