YouSaid · the spoken record
Peter Kyle
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On the record 2015–2026
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“I am grateful for the opportunity to say that one year ago we published our industrial strategy. Since publication, work driven by the industrial strategy has secured around £360 billion of private investment into the eight industrial strategy sectors and £33 billion-worth of export announcements, supporting up to 120,000 jobs. We are backing winners and giving our sectors with the highest potential everything they need to succeed, and in year two we will go further. We will be cutting energy costs for 10,000-plus manufacturing firms, working with businesses to create jobs for those eight sectors—the IS-8—to secure the workforce of the future, and cutting regulatory burdens to unlock investment. In just under two weeks, on 15 July, our trade deal with India will enter into force.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is good to see the hon. Gentleman again in the same session—I suggest that he buy a lottery ticket tonight, because he is certainly having a lot of success in the draw. I can assure him that we are investing in small and medium-sized enterprises, and we have funding targeted at helping young people to start their own businesses. He lists some of the perceived challenges in the economy at the minute. Do not forget that youth unemployment went up by 250,000 in the years leading up to the general election without all the things that the Conservatives keep mentioning we are doing, such as giving rights and delivering investment into the economy.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I pay tribute to the business in my hon. Friend’s constituency that he advocates for. Businesses around the country are paying the price of, and having to adapt to the challenges posed by, the Iran war. It is a good job that we have a Prime Minister who kept us out of the war—those on the Conservative Benches would have plunged us into it and made things even more difficult for businesses in my hon. Friend’s constituency and across the country. On his specific question, I can tell him that we are engaging regularly with refiners, importers and distributors to ensure that any emerging risks are identified and managed properly.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I always look forward to the hon. Lady’s questions. The fundamentals of running our economy are going in the right direction. Growth is up, and inflation is down. These are things that the Conservatives never achieved when they were in government, but we have achieved them in two years. We have got more growth into our economy in the last two years than they achieved in multiple years leading up to the election.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I can assure the hon. Lady that the Minister responsible, my hon. Friend the Member for East Renfrewshire (Blair McDougall), has met victims regularly. We are accelerating the compensation and the justice from what we inherited, because it was going too slow to deliver the justice that people required. When it comes to Horizon, we will deliver the justice and compensation that people require. On the plan, our industrial strategy is crowding £360 billion of private investment into key sectors of our economy. We are lowering energy prices for manufacturers. Through plan after plan after plan, we are delivering the change that business is calling for and needs.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“This Government are investing record amounts in the transition to renewable energy. We need to break the dependence on fossil fuels that our country has been forced into by the Conservative party. We will do so by creating wealth, jobs and businesses in the meantime.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am extremely grateful for my hon. Friend’s really important question. As I have said throughout this session, we are investing in young people and people in work, so they can adapt to the changes happening in the economy because of the transition to digital technology, particularly with AI. We are providing flexible support through bursaries for younger learners and learner support funding for adults. Do not forget the work that Business and Trade Ministers are doing jointly with the Secretary of State for Science, Innovation and Technology to ensure that people in the workplace are trained and have all the skills they need to thrive in the digital age.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I can provide all the reassurances my hon. Friend seeks. We are of course investing in the new technical colleges, as I have outlined. We are investing in young people so that they have the skills to transition from education into the workplace. We know that young people face challenges in this era because of not only the legacy of the last Government but the transition towards an AI future, which is disrupting the workforce. We are focused on training people, and we are working very closely with Alan Milburn, who brought consensus to the diagnosis of the challenges facing young people, and I hope will now bring consensus across the House to how we grab this issue once and for all.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am already working with DSIT on these issues, but because of my hon. Friend’s informed question and the imploration for me to do more I will double down on that. He is giving real voice to an incredibly important part of the defence technology sector which we need to foster. The defence investment plan invests much more in drone technology. We will be investing more than £5 billion in drones over the next four years, and that his constituency will be playing a very key role in that.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am grateful to the right hon. Gentleman for his informed question. I, too, celebrate this important appointment and the Office for Investment is doing great work. The criteria for success that I see are how Britain can get more scale-up investment into companies, so they do not have to go elsewhere around the world to find the capital they need to grow, and how more people can start, build and scale right here in the UK. I often ask myself why the continent of Europe does not have a single trillion-dollar company. The Office for Investment, working with the Government, can start to answer that question.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I can assure the hon. Gentleman that we are having conversations with DEFRA over these issues. We want to ensure that regulation is right. We need to incentivise the right behaviour and the circular economy, but we need to do so in a responsible way. We are always engaged with the sectors that are impacted, not just because of regulatory measures but because of external measures facing our economy.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I certainly join the hon. Member in celebrating the success of that business—and businesses across the country that are doing such great work for the people who work in them and our overall economy. I would like to hear more about the business, and if I get the opportunity, visiting would be a pleasure.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am grateful for my right hon. Friend’s advocacy, and I share in his birthday message to the people of the United States of America. The Department for Transport is engaged with the Port of Dover, and thanks to the functional and productive relations we have with the EU, we are working with it on those issues to ensure that the worst-case scenario my right hon. Friend outlines does not come to pass,”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The hon. Member’s enthusiasm is infectious. He came to meet me when I was Secretary of State at the Department for Science, Innovation and Technology to talk about the Golden Valley, and we spoke about our shared ambition in that area for the clustering of expertise that having GCHQ and others brings to the community he represents. I share in the hon. Member’s celebration and hope that I get to visit at some point soon.”
House of Commons2 July 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Bill is action with a purpose, and the purpose is clear: to invest in, modernise and protect Britain’s steel. I am encouraged to witness the strength of support in the Chamber for this activist, interventionist Bill. As it moves to the other place, let me reiterate my commitment to continued engagement with parliamentarians as it completes its passage and we ensure that the Government’s vision for Britain’s steel sector becomes a reality. I commend the Bill to the House.”
House of Commons9 June 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“A lifetime of dedication to the steel sector has brought valuable insight, passion and creative parliamentarian work to the Bill, which has enriched the debate in this place. The House has sent a clear message about the importance of decisive action to safeguard the future of the steel industry. Since I became Secretary of State, I have championed an activist, interventionist industrial policy—activist, because the years of standing back and watching British industry decline are over; interventionist, because we, like other Governments around the world both right and left, from the United States to France and Germany, step in to invest, modernise and protect our industries. Our policy is both activist and interventionist, because purpose without action is merely rhetoric, and acting without purpose is performative, not strategic.”
House of Commons9 June 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Bill requires a clear public interest test and provides for a compensation scheme where that might be relevant. The Government fully respect the rights of businesses and investors subject to this Bill. We will continue at all times to act fairly, regardless of the nationality or background of those businesses. I place on record my thanks to parliamentary counsel and officials in my Department for their hard work on drafting and guiding the passage of this Bill. I also thank the Clerks, the Doorkeepers, Hansard and all of the House and its authorities for making the passage of this legislation possible. Let me also, on a personal note, pay tribute to the Minister for Industry, my hon. Friend the Member for Stockton North (Chris McDonald).”
House of Commons9 June 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We have always been and remain country-agnostic about the current ownership. We simply believe that the British public interest should be paramount in determinations about future ownership. We continue to welcome international investment into the UK, including from China. We remain committed to our legal and international obligations to overseas business and foreign investors. We are fully compliant with our treaty undertakings to protect overseas investors and businesses operating in the United Kingdom. While this Government need to take steps to secure UK Steel’s capability, we are committed to doing so in a manner that respects the rights of businesses. When and where the Government exercise the transfer powers in the Bill, an independent valuer will be appointed to determine what compensation, if any, is payable.”
House of Commons9 June 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Let me begin by thanking Members for their time and their thoughts. I express my gratitude to those who have contributed to the passage of this Bill so far, especially those who have taken a particular interest in ensuring that we get the details of this vital piece of legislation right. I also take a moment to recognise those working in and supporting our steelmaking communities. Every day, they make a vital contribution to our country’s economic security. During the passage of this Bill, we have heard much about the specific situation at British Steel Ltd, and in particular about its current ownership status. Let me be frank with the House: our decision to proceed with this Bill—to take these powers now—has absolutely nothing to do with the national origin of the current owners, Jingye.”
House of Commons9 June 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I beg to move, That the Bill be now read the Third time. This Government believe in Britain’s steel future. This Bill will help to transform that belief into a reality. It will ensure that the long-term vision for our UK steel sector is realised, helping to restore domestic production to sustainable levels and to support this Government’s economic growth plans. This Bill provides powers for the Government to bring steel companies into public ownership, subject to the public interest test being met. In many ways, the progress of this Bill has shown the House at its very best, with passion, insight and determination to take action in the national interest. We had an excellent and wide-ranging debate, with Members from all parts of the House recognising the importance of passing this legislation.”
House of Commons9 June 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“With the leave of the House, I would like to thank my hon. Friend the Member for Darlington (Lola McEvoy) for her passionate speech and my hon. Friend the Member for Clwyd East (Becky Gittins) for her heartfelt speech just now. Those are the kinds of contributions that give heart and soul to what we are trying to achieve, and that give voice to the communities affected. I also pay tribute to the hon. Member for Brigg and Immingham (Martin Vickers) for his contribution. I commend the Bill to the House. Question put and agreed to. Bill accordingly read the Third time and passed.”
House of Commons9 June 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is going to be a busy day for the Department for Business and Trade team. We are going to be spending a lot of time together today, Mr Speaker, and I very much look forward to it. We are improving how businesses find, log into and use digital Government services. Better digital services—increasingly joined-up services—can reduce administrative burdens and save businesses time and money. That is why we have pledged to reduce the administrative burdens on business by 25%, and digital will play a key role in that.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend and I share a zeal for using digital to transform the relationship between Government and those who use services. When I was the Secretary of State for Science, Innovation and Technology, I was very proud to work with the Government Digital Service team and see how they are transforming the ability of individuals to interact with Government. We need to have the same zeal for transforming how businesses interact with Government, and I can assure him that a programme of work is going on with my Department to make sure that that is the case.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Minister responsible for small business and economic transformation, the Under-Secretary of State for Business and Trade my hon. Friend the Member for East Renfrewshire (Blair McDougall), met Royal Mail’s chief executive on 12 May to discuss its service improvement plan. I know that my hon. Friend has been campaigning on these issues in her constituency vigorously and that has been heard loud and clear. Royal Mail has told my Department that Middleton delivery office in my hon. Friend’s constituency is fully staffed and delivers to most addresses six days a week. I know that she will be scrutinising that and might well have a bit more to say on that now.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I said that my hon. Friend was a great advocate for her residents on this issue; she is proving so once again. I can reassure her that the Government have secured a commitment from Royal Mail’s owners to prevent the payment of dividends until service levels improve. That will be a tangible impact on the business unless service levels improve. I have also been involved in discussions with Royal Mail’s owners and the Communication Workers Union to get a deal that can start work on the universal service offering and modernisation reform package for the company, as well as one that tackles pay equalisation. They have reached a deal and it is now out to CWU members. I hope that that will be the foundation for real improvement into the long term. It shows this Government’s active industrial strategy that get things done.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Ensuring that business support takes account of rural needs is incredibly important for this Government. Around one in six people live in rural areas in England, with over 520,000 businesses contributing £259 billion to the English economy.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The fact that the hon. Lady’s constituent works in the hospitality sector and is located in a rural area means that he requires multiple types of support from this Government, which he is getting. We have permanently lowered the business rates multiplier for eligible retail, hospitality and leisure properties. That is worth nearly £1 billion and benefits over 750,000 businesses. I imagine that his business will fall within the definition of a small business. Just this week, we have introduced legislation to tackle late payments for small businesses, which will inject another £11 billion into the economy. This Government are on the side of businesses, whether they are in urban or rural areas and whether they are large or small.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend is describing businesses that are the lifeblood of the British economy, and the innovation that flows from them is vital. The Department for Environment, Food and Rural Affairs’ rural taskforce is taking a strategic view of the challenges faced by businesses in rural areas, and I imagine that the one that he mentions will be in scope. The business growth service also includes growth hubs across the UK, which are supporting businesses in rural areas so that they can get the growth they need into their businesses.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am grateful to the hon. Gentleman for not ruining my moment to shine. I told the House that I would be an activist, interventionist champion for business. I am very pleased to say that later today, the Chancellor will announce funding for two of our foundational sectors: ceramics and chemicals. She will set out more detail to the House shortly, but I can say that we are working with industry and experts to provide the targeted intervention that those sectors need. Today’s business tells the story: this Government stand with British business when it comes to creating the resilient and growing economy that this country deserves.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It speaks for itself when the Opposition try to take credit for the Government’s achievements. It shows just how good this Government actually are. However, I am grateful for the hon. Member’s warm words about the GCC deal. A lot of work went into it, but of course when we came into office, we were practically on the starting line; we were so close to it at that moment. I will be really up front about youth unemployment. This issue faces most communities in our country, and we should have much more cross-party support on it. In the interests of offering an olive branch, let me say that as someone who had a challenging pathway through education into employment, I recognise the issue. However, the Opposition must admit that, in the three years before they left office, youth unemployment went up by 250,000.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Dynamism is increasing in our economy, and that is why we have so much growth—growth that the Conservatives failed to deliver in their 14 years. As for young people, we have the youth guarantee, which includes a six-month funded programme placement that provides a rich environment for kids who were put out of work—a lot of the time, by the Conservatives when they were in government. It gets kids back into work, and does so sustainably.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Just last year, I was in my hon. Friend’s neck of the woods for the investment summit, unleashing further billions into his part of the country. I know that the automotive sector is incredibly important to him, and we are pledged to getting back to the level of automotive output we had before the Tories halved it. When we get back to that point, he will see a flourishing, booming industry, with the jobs that follow.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“There will be no price cap and there will be no price controls, but I am not going to apologise for throwing everything and the kitchen sink at the cost of living challenges that we inherited, along with an economy that was broken.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am very grateful for my hon. Friend’s question. Yes, I can say that Little Layton in his constituency is one of the 379 communities across the UK that will receive Pride in Place funding, just one of the cross-departmental packages of support that his constituency will benefit from. We will not forget. We will keep on supporting him all the way.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend raises an incredibly important point. The UK Government have a support package for England, with £4.3 billion to protect ratepayers. The Barnett consequentials provide support for Scotland, but where the UK Government are supporting businesses, the SNP is choking off investment and risking jobs.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My right hon. Friend, as always, gives great voice to the automotive sector. I have listened closely to the voices of the sector in relation to the ZEV mandate—it is important that we do that. It is also important that, when setting such targets, we take into account consumer demand. That is something I am very aware of and having conversations about with colleagues across Government.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am grateful to my hon. Friend for his comments. The package that we are announcing today will be significant. I will not say any more, because the Chancellor will be making that announcement later. I can say, however, that the boldness of the package is a direct consequence of the voices that we have heard from MPs, including from my hon. Friend and others in Stoke—whether losing their voice or not. Those voices have been profoundly important to the scope, scale and boldness of what will be announced today.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The decline of the steel industry destroyed jobs, diminished skills and damaged communities, but it never, ever diluted the pride, resilience and determination of those working people. Today, this Steel Industry (Nationalisation) Bill repays, in part, the debt that we owe Britain’s steel communities. Steel is integral to the key growth-driving sectors of our industrial strategy: to advanced manufacturing and the car industry; to clean energy, in our wind turbines and our grid infrastructure; and to security and defence, in fighter jets, battleships and submarines. It is essential to this Government’s growth mission to create a strong, resilient economy delivering for working people. That is why Britain’s steel sector accounts for thousands of jobs, right across the country.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I beg to move, That the Bill be now read a Second time. For generations, the steel industry has stood at the very heart of our national story. From the furnaces of Sheffield to the docks of Port Talbot, from Scunthorpe to Redcar, steel forged not only the railways, ships, bridges and factories that powered the industrial revolution, it built communities, livelihoods and a sense of pride in Britain. Steel made in Britain built our Navy, helped to defend our freedoms in times of war and laid the foundations for modern infrastructure right around the world. When people speak of the United Kingdom becoming a great industrial nation, they speak of the skill, resilience and determination of the steelworkers who helped to shape that destiny by the fruits of their labour.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“As the right hon. Lady knows, I have been to Port Talbot and I have launched a steel strategy since this Government came into office. The vast majority of the decline that she describes happened under the previous Administration. We are cleaning up the mess on a whole bunch of fronts and in different areas of our public life. This Government have invested £500 million into that plant, and we have launched a steel strategy that I believe will give it a fruitful and prosperous future. We are doing what it takes to be the partner needed in these times.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The work that my hon. Friend is doing is incredibly important to fulfilling the mission, and the possibility that the British steel sector has in the 2020s and going forward. That is the purpose of having a strategy where we invest and modernise, and then at times we need to protect as well. These are the things that we are doing to deliver a long-term, sustainable and global future for Britain’s steel industry.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am not sure why the right hon. Gentleman would think that British steel would be more expensive as a result, but let us take one step back: if we did not protect, there would be no steel sector to export in the first place. That is why I took the decision to invest, to modernise and to protect where needed. If this Government had continued on the same trajectory that we inherited from the previous Government, I would fear for any steelworks at all being capable to export, let alone producing domestic supply as well. This is the future that we are now creating.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Friend the Member for Stalybridge and Hyde (Jonathan Reynolds), for his leadership during that time, and I am grateful to the House for supporting that vital piece of legislation. When we intervened then, we were certain that there was a future for British Steel. Our determination now is that the future may best be served by full public ownership in the national interest, not because of ideology, but because of practical pragmatism. Public ownership would allow us to explore future opportunities for the company and to retain its vital resource as a critical piece of our national infrastructure—one that is essential to our economic resilience. I want British Steel to play its part in driving up our domestic steel production to ensure that 50% of the steel used in this country is made in this country.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am going to make some progress because the debate has been cut short. I have taken a few interventions and I am sure I will find time for the right hon. Gentleman to intervene later in my opening remarks, but first let me make a bit of progress. I have pledged to ensure that Britain retains its capacity and capability to manufacture steel. It is a commitment that I have made to hon. Members in this House and it is my commitment to the steel communities of this country. This House acted last year to support British Steel, which is one of the country’s most vital steel firms. We recalled Parliament to pass the Steel Industry (Special Measures) Act 2025 so that the company’s blast furnaces could remain lit and its workforce could remain protected. I am grateful to my predecessor, my right hon.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The right hon. Gentleman raises a really important point. This Government are determined to make, produce and use more steel from the British sector in lots of different areas of the economy, and we want to ensure that we are using Government spending and procurement in driving up steel production in the UK. I had the privilege to visit the Agratas gigafactory in Somerset. It is in a different sector, but it is using 231 tonnes of British steel in its production. That is using an amount of Government investment as well, so it has Government investment and private sector investment and is using British steel. That shows that when we align our priorities, we can drive up demand for British steel.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The public value test is a high test, and I think the right hon. and learned Gentleman will agree that that is the case on seeing and reading the legislation, as he has done. I have set the bar high enough that this power would be triggered only in extraordinary circumstances. These are things that we can test in Committee in the coming days—I believe that will be next week. [ Interruption. ] It will be in the next sitting week, when we return from recess. Do not worry; we are not recalling Parliament again. I will address this matter a bit more in my speech. This power will not be used routinely; it is a specific power, and the test for it will be high.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“and learned Member for Kenilworth and Southam (Sir Jeremy Wright), the powers given to the Government by the legislation cannot be exercised without due caution and proper care. These powers are bold, but they are not boundless. They can be used only where there is a clear public interest and where they will be needed to safeguard British steelmaking capability. The Bill does not nationalise British Steel in and of itself, but it grants the Government powers to do so if considered necessary. That is the scope of the legislation we are debating today.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I will make some progress. To that end, we began negotiations in good faith with Jingye, the owner of British Steel, to see if a commercial sale was viable, but that did not prove to be possible. We could not agree terms that would have safeguarded simultaneously the integrity of the business and the interests of the taxpayer. That is why the Prime Minister announced the Government’s intention to bring British Steel into public ownership, subject to the public interest test being met at the time of that decision. That is why we need to pass the Steel Industry (Nationalisation) Bill now, to give us the power to make that possible. Let me be clear to the House. In answer to the question from the right hon.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Steel is essential for our transport networks, our energy security, our housing and our transition to a greener economy. That is why supporting the British steel industry is about more than protecting jobs, important though they are. Supporting British Steel—”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We recognise that securing the long-term future of the UK steel sector relies on public and private investment for modernisation, so that the UK can become a global leader in clean green steel, electric arc furnaces and decarbonised steel production. We recognise that blast furnace production will need to continue in the immediate future and that a managed transition is vital to maintaining supply. We need this legislation to raise resilience, to protect businesses up and down the country that depend on Britain’s steel, to defend the workforce at British Steel and to safeguard the communities built on British steel. The significance of steel is not simply a matter of history; it is a matter of our national future. In an uncertain world, the ability to make steel remains a strategic national asset.”
House of Commons21 May 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗