14:44 Stephen Kinnock (Labour)

A focus on steel would deliver three interlinked benefits. First, it would support the creation of high-skilled, well-paid jobs in areas of the UK that have been ignored by successive Conservative Governments since 2010, including in south Wales. Secondly, it would strengthen the UK’s sovereign capability. One of the most important lessons of the pandemic is that we are far too dependent on supply chains from other countries, and increasingly, those countries are run by authoritarian Governments who are not our natural allies. Thirdly, it will enable our transition to net zero, backing the industries of the future but also greening current industries. Yet, by failing to provide the UK’s largest steelmaker and the employer of 4,000 steelworkers in my constituency with the emergency loans during the pandemic to plug the cash flow gap caused by the fall in demand, the Government have again chosen to sit on their hands. There can be no post-pandemic recovery, no levelling up and no modern manufacturing renaissance without a strong and healthy steel industry.

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