- 09/06/2026
- Posted by: Valerie Vaz MP
- Category: News
The Bill was considered in a Committee of the Whole House on 8 and 9 June 2026. Clauses 1 to 51 of the Bill , which consider transfer powers, establishing a Stakeholder Advisory Committee, preparing a jobs and industrial strategy, duty to report a 10-year strategy for nationalised steel undertakings, and a requirement for a statement to Parliament on contingent liabilities were debated on 8 June. Three amendments were voted on:
1 Amendment 12, which would prevent the Secretary of State extending the sunset of the principal transfer powers, was rejected: Ayes 81, Noes 266.
2 New Clause 2 required the Secretary of State to establish a stakeholder advisory committee. The Secretary of State would be required to seek the committee’s advice before making a determination that the exercise of a principal transfer power under the Act was in the public interest. This new clause was rejected: Ayes 65, Noes 251.
3 New Clause 8, which would require the Secretary of State to make a statement to Parliament on contingent liabilities acquired before they exercise a principal transfer power under this Act, was rejected: Ayes 145, Noes 251.
On 9 June Clauses 52 to 64 of the Bill were considered, relating to compensation, Parliamentary scrutiny of financial assistance, limitations on financial assistance, repeal of the Steel Industry (Special Measures) Act 2025, the creation of duty to try and find a private sector purchaser for any nationalised steel undertaking, impact of nationalisation on inward investment to the United Kingdom, and the use of state aids for nationalised steel undertakings. Three amendments were voted on:
1 Amendment 20, which would only allow the Secretary of State to provide financial assistance if the National Audit Office had concluded that it would secure value for money for taxpayers, was rejected: Ayes 90, Noes 290
2 New Clause 12, which would limit the financial assistance that can be provided under the Act, was rejected: Ayes 94, Noes 297.