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MPs set for emergency steel crisis debate in Commons

MPs are set to hold an emergency debate to discuss the current steel industry crisis facing the UK as the future of British steel continues to 'hang in the balance'.

It comes as the Government said on Monday it could look at the possibility of co-investing with a steel buyer "on commercial terms" to help secure a sale.

Business Secretary Sajid Javid said the "Government stands ready to help" as he addressed the Commons on the issue after Tata Steel announced a deal with Greybull Capital to buy its Scunthorpe plant and save 4,400 UK jobs but no deal was yet secured for other UK plants.

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Philip Hammond 'urges China steel reduction'

Philip Hammond met China's foreign minister today in Beijing Credit: AP

Philip Hammond urged China on Saturday to "accelerate its efforts to reduce levels of steel production".

The Foreign Secretary was in Beijing where he met his Chinese counterpart, Wang Yi, to raise the issue of over-capacity in steel production.

Mr Hammond said the meeting had provided an opportunity to talk about "issues of mutual concern", as negotiations over a potential Port Talbot steelworks sale continue.

"I urged China to accelerate its efforts to reduce levels of steel production", Mr Hammond said.

"The UK's focus is on finding a long-term sustainable future for steel making at Port Talbot and across the UK, and I welcomed the potential interest of Chinese companies in investment in UK steel-making".

Mr Hammond will now fly on to Hiroshima for the G7 foreign ministers' meeting.

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MPs set for emergency steel crisis debate in Commons

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