British Steel Update

The announcement that British Steel has placed itself into insolvency is an absolute hammer-blow for steel workers and their families. My number one priority is to ensure a sustainable future for the operations at Skinningrove and Lackenby.

Greybull have totally failed the people of East Cleveland and my anger with them knows no bounds. I hope their directors are held to account for taking yet another company to the brink.

Accountancy firm Ernst and Young have taken on the role of Special Manager, assisting the Government’s Official Receiver. They have started looking for a buyer for the business. In the meantime, it’s really important to understand British Steel will continue trading normally.

My position is clear: the Government must do whatever is required to prevent closure. That could well mean temporary nationalisation. This would not solve the problem that state aid rules mean there are legal barriers to injecting money on a non-commercial basis. However, I believe we should save the company first and argue the case later, once the company has been saved.

Ben Houchen,Tees Valley Mayor has called a crucial summit on Friday and I look forward to working together with him and my neighbouring MPs Anna Turley and Andy McDonald. This is a Teesside issue and we need to work together.