Government announces multibillion-pound plans to boost UK steel industry

Government announces multibillion-pound plans to boost UK steel industry
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Government announces multibillion-pound plans to boost UK steel industry
Author: Alan Jones
Published: Feb, 16 2025 00:01

Summary at a Glance

Gareth Stace, director general of UK Steel, said: “Developing the Steel Strategy must be a collaborative process, and the consultation is an open invitation for all stakeholders to help shape the future of UK steel.

In the face of US President Donald Trump’s plans for tariffs on products including steel, the Government said up to £2.5 billion will be put towards supporting the UK steel industry.

“The new green paper sets out some of the main challenges and opportunities our steel sector will face over the years ahead, posing important questions on how we can secure and boost existing capacity, stimulate demand for UK steel, and deal with longstanding problems like industrial energy prices.”.

Community general secretary Roy Rickhuss said: “After a long era of neglect under the previous government, we welcome the Government’s firm commitment to our steel industry.

Unite general secretary Sharon Graham said: “The launching of the steel strategy is a critical landmark for a foundation industry, whose success is essential to the wellbeing of our economy and our national security.

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