Jonathan Reynolds

Jonathan Reynolds

Labour (Co-op) — Stalybridge and Hyde

Speaking in the House of Commons on 14 September 2026

Debate

Speciality Steel UK

Contribution

The process to date has in effect been working with potential private sector bidders on the viability of their plans. That task is entirely different from what we can do now, which is essentially to assess whether there is a viable future for this business under public acquisition. If there is—and, again, the strength of the products and the history of these sites are well known, as we have discussed in the House today—the opportunity would present itself to return to steel production. My hon. Friend mentions the changes to procurement, and yes, there have been considerable changes to what we can do. In the main, I would say that when steel products are made in the UK, they do tend to be purchased in the UK. There is a significant export side to the UK business, but they are in the main purchased around that. Historically, the problem has been goods and products that we do not make in the UK and have had to import. Again, I think there are gaps in the market in that regard.

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