Steel Industry

Adam Price
To ask the Secretary of State for Trade and Industry what assessment he has made of the likely effect of the acquisition of Corus by Tata Steel on employment in the UK steel industry.

Malcolm Wicks
We have made no such assessment. Corus has stated that there would be no job cuts in the short term, although like any other company the unpredictability of markets meant that it could not offer guarantees on jobs in the longer term. However the link-up with a low-cost producer with access to raw materials and to high-growth markets for products where Corus has a particular strength will enable the company to compete on a global scale, and thereby help secure the future of plants located in the UK.