Labour's plan for the steel industry is meaningless when Brexit is on the table


Commenting on Labour's plans for the steel industry, Liberal Democrat Shadow Secretary for Business, Energy and Industrial Strategy, Sam Gyimah, said:

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“Labour's plan is meaningless as long as Brexit is on the table. If Jeremy Corbyn allows Brexit to happen, our steel industry will suffer a huge blow from the new trade barriers between us and our closest trading partners. And the hit to our economy will freeze any new investment plans.

“The Liberal Democrats are the only party with a credible plan for our steel industry and the North East. Instead of tampering around the edges with business rates, we will scrap them altogether, replacing them with a commercial land value tax, which will create a massive 22% tax cut for our manufacturing sector. The North East as a whole will see business bills fall by 19% on average. And to boost local jobs, we will give every adult a £10,000 pound account to spend on training and education.

“Where Labour offers fantasy economics, we have a credible plan to stop Brexit and build a brighter future for our steel industry.”


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