Stephen Kinnock: The UK exports 2.6 million tonnes of steel to the European Union every year. It is estimated that a no-deal Brexit would add £70 million of additional administration costs and costs relating to border checks. Does the Secretary of State therefore agree that a no-deal Brexit represents an existential threat to the British steel industry, and will he be conveying that message loud and clear to his successor and to the incoming Prime Minister?
Greg Clark: I gently say to the hon. Gentleman that that message should be conveyed to all Members of the House who did not vote for a deal that would have provided, as British steel advised, the ability to trade in that way. My views on the desirability—in fact, the imperative—of having a good deal that allows us to trade without introducing barriers and frictions are well known to the House, and indeed beyond. What I will say is that at this time, when potential purchasers are considering British steel, actually it is not the case that the steel industry would not have a future in the event of different forms of Brexit. It is very important to convey to prospective buyers the fact that the industry that exists, with its opportunities domestically and internationally, and with the quality of its workforce and of its steel production, is attractive in itself and will not be trumped by the Brexit settlement. It is important that those prospective buyers have confidence, as some of them have having done their due diligence, that this is a good investment in all circumstances.