Steel Industry
Resolved,
That this House recognises the fundamental strengths of the British steel industry, which is amongst the most efficient in the world; believes that, despite the regrettable decision of Corus to cut UK steel capacity, the industry has a long term future in Britain, as recently demonstrated by the decision of Corus to invest in the Port Talbot works; further recognises that the success of economic restructuring in Central and Eastern Europe, together with the enlargement of the European Union, is essential for the future of the British steel industry and other British manufacturing as it will extend markets and reduce hidden subsidies; congratulates the European Bank for Reconstruction and Development for its work on restructuring the Romanian and other Eastern European companies, including through supporting the successful sale of the SIDEX steel corporation; and further welcomes measures put in place by the Government and the National Assembly for Wales to train and retrain former steel workers and regenerate communities affected by Corus job losses.