Today I asked a question relating to the Tata pension scheme during the statement on Steel by Sajid Javid. Stephen Kinnock: There has been some speculation in the media that Tata steel may in fact decide to retain the business, could the SoS explain if that were to come, what role Tata Steel would play in this issue of the pension scheme? Continue reading
Watch the full debate hereI want to start by thanking you, Madam Chair for granting today’s debate and congratulate the Hon member for Middlesbrough South and East Cleveland for securing this debate. There are many familiar faces in here, Madam Chair, and that is no surprise as Labour members in this House have raised the issue of steel well over 220 times since last May. And the Save Our Steel Campaign has been exerting real pressure for over a year now. Continue reading
Today’s visit by the Prime Minister is welcome, but there is still a very long way to go before we can claim to have secured a sustainable future for the British steel industry. I had a constructive telephone conversation with the Prime Minister this morning, during which we agreed that our shared aim is to ensure that the sales process is conducted in a responsible, thorough and robust manner, based on Tata Steel's promise that it will act as a responsible seller. Continue reading
Today the UK and Welsh Governments have announced a package of support including pledging taking upto a 25% stake in any takeover of Tata's UK Strip Products operations. UK Government Press Release I welcome this move from the British and Welsh governments. It is an indication of how far the British government has moved in recent weeks and months, indeed it is fair to say that it is a long overdue U-turn. This announcement has come as the result of the relentless pressure that Labour MPs and the steel unions have been exerting within and outside Westminster, exemplified by the fact that we have raised the issue 208 times in the Chamber since the General Election. Continue reading
Ever since Tata Steel decided to sell its Strip Products UK business I have felt that a management buy-out (MBO), based on the proposals that are outlined in the turn-around plan, was the right way to go in principle. But of course the MBO has to have the right team and the right financial backing, if it is to work in practice. That is why the due diligence phase of the sale process will be so important, and why I am very concerned about the tight time-line that Tata Steel has set out. It is vital that Tata Steel delivers on its promise to be a responsible seller, and that the government ensures that this is the case. Continue reading
Progress The parliamentary Labour party has raised the steel crisis in parliament 208 times since the general election. From urgent questions to opposition day debates to ministerial questions to PMQs and Westminster Hall, we have deployed every tool in the parliamentary toolbox to hold the government to account. But our parliamentary work is the tip of the iceberg. Community union’s Save Our Steel campaign has had a huge impact, playing out on our televisions, and on the streets of towns and cities all over the country. The Labour movement has shown, in no uncertain terms, that when we stand together we truly are the Voice Of Working Britain. We have shown, in stark contrast to the government, that we will strain every sinew to stand up for the 15,000 steelworkers and the 25,000-strong supply chain workforce whose futures are hanging in the balance. We have demonstrated the cost of inaction, and exposed the failings of free market dogma. Continue reading
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