The 海角视频 Government has initiated a new steel council, which includes members from Tata Steel and British Steel, in response to the thousands of job losses experienced in the 海角视频 last year. The council is set to guide plans for the industry, supported by an investment of up to £2.5bn.
Business Secretary Jonathan Reynolds, who will preside over the council's inaugural meeting today stated that steel communities have "had enough of lurching from crisis to crisis". The chief executives of of Tata Steel and British Steel, along with representatives from the GMB Trade Union and devolved government ministers including Welsh Government Economy Secretary Rebecca Evans ,are among the members expected to meet regularly.
Last year, Tata Steel announced its decision to replace traditional blast furnaces with an electric arc furnace at its largest 海角视频 site in Port Talbot, Wales. Traditional steelmaking ceased in September, resulting in thousands of workers losing their jobs.
British Steel also revealed plans to shut down blast furnaces in Scunthorpe in 2023, and to introduce a less polluting electric arc furnace. These greener plans, which require fewer workers, sparked concerns over potential thousands of job losses.
The Labour 海角视频 Government has pledged to spend £2.5 billion "to rebuild the steel industry". This funding would be supplemented by a separate £500m package for Tata Steel to partially fund the new steel production at Port Talbot, where a £1.2bn electric arc furnace, which will make steel from scrap, is scheduled to open in 2027.
The steel council, jointly led by the chair of Teesside's Materials Processing Institute, is gearing up for the spring release of the Government's steel strategy. This pivotal document is anticipated to outline means of bolstering 海角视频 steel production capacity and align investment choices with demands to fuel economic expansion.
One critical topic on the council’s agenda will be how best to utilise the available funding, which may reach £2.5bn. “The industry and steel communities have had enough of lurching from crisis to crisis – this Government will take the action needed to place steel on a secure footing for the long term," asserted Mr Reynolds.
"With the launch of the Steel Council we're placing workers and local communities at the heart of our plans as we bring forward £2.5bn of investment to secure growth right across the country. ” Gareth Stace, director general of trade group 海角视频 Steel, commented: "The establishment of the Steel Council marks a defining moment for the future of steelmaking in Britain."
Most Read
He added: "The council represents a crucial step towards creating a comprehensive Government steel strategy – one that lays the foundations for a sustainable and resilient industry."
Roy Rickhuss general secretary of steelworkers' union Community, said: "Community is pleased to sit on the new Steel Council, which holds its first meeting today. After fourteen years of neglect under the Conservatives, we now have a Labour government which understands the importance of implementing a robust industrial strategy with steel at its heart.
"We look forward to working with government and other stakeholders on the Steel Council to maximise the benefits of the game-changing £2.5 billion minsters have earmarked for revitalising our steel industry and providing the secure future our steelworker members across the 海角视频 deserve."
Also represented on the council is Cardiff-based recycled steel business Celsa