Source · Select Committees · Business and Trade Committee
Recommendation 10
10
Acknowledged
Paragraph: 60
We note the recent developments within GFG Alliance and Liberty Steel UK and welcome the...
Conclusion
We note the recent developments within GFG Alliance and Liberty Steel UK and welcome the injection of capital at Liberty Steel’s Rotherham plant. However, we note that once again Sanjeev Gupta has decided to set up an additional corporate entity to provide financial support to Liberty Steel UK companies without clear reporting and decision making on the source and terms of use of that funding.
Government response summary AI-generated
The government, via BEIS and the FRC, acknowledged the public interest in the issues of opaque funding at Liberty Steel, outlining the FRC's investigative remit and procedures for handling such cases, noting the specific entities are not usually within FRC's scope but can be reclaimed.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
60
Government Response
Acknowledged
HM Government · verbatim extract
Acknowledged
16. The Government is grateful to the Committee for its agreement that providing the grant requested to support GFG Alliance would have been an inappropriate use of taxpayer money.
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