STEEL PRICE INCREASES

Early day motion 1175, tabled 12 May 2004 by Alan Meale (Labour). Signed by 53 members.

That this House expresses its deep concern about escalating steel prices in the United Kingdom which are subsequently having a severe impact upon the competitiveness of British manufacturing companies; notes that the major factor causing this is the current unprecedented demand from China for steel and steel scrap, which consequently has fuelled increased product prices on a monthly basis; believes that urgent action is required before international demand causes acute shortages of material supplies; and calls upon Her Majesty's Government urgently to examine and react to these developments which are leaving United Kingdom manufacturers exposed, vulnerable and likely to cause many to consider migration of their activities abroad to low wage economies to counter escalating costs.

Signatures by party: Labour 33, Labour/Co-operative 6, Conservative 5, Liberal Democrat 3, Scottish National Party 3, Plaid Cymru 2, UUP 1.