Source · Select Committees · Business and Trade Committee
Recommendation 14
14
Not Addressed
Paragraph: 79
Steel is a foundational industry in the UK and in need of significant structural reform.
Conclusion
Steel is a foundational industry in the UK and in need of significant structural reform. The use of high-risk financial funding practices, such as future receivables lending, that Greensill Capital and GFG Alliance engaged in are barriers to such reforms. By his use of such practices Mr Gupta, the so-called “saviour of steel” is creating uncertainties that further undermine the long term viability of the steel industry in the UK.
Government response summary AI-generated
The government response expresses gratitude for the committee's agreement on not providing a grant to GFG Alliance, but does not address the concerns about high-risk financial practices undermining the steel industry.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
79
Government Response
Not Addressed
HM Government · verbatim extract
Not Addressed
Liberty Steel and the Future of the UK Steel Industry: Government response 7
Read the full response on Parliament ↗