House of Commons – May 21, 2026 – 6

I beg to move an amendment, to leave out from “That” to the end of the Question and add: “this House declines to give a Second Reading to the Steel Industry (Nationalisation) Bill because it believes that politicians should not be running businesses;

because expropriating businesses sets a precedent that will deter inward investment into other UK businesses;

because the Bill exposes taxpayers to unlimited liabilities;

because the powers that the Bill confers on Ministers are far wider in scope than would be required for its stated purpose;

and because it fails to contain any measures that would address the issues which are currently making domestic production of steel unprofitable such as higher employment costs and policies in pursuit of net zero, such as carbon taxes and associated regulations and levies.”