Since coming to power for the first time in 14 years, the Labour Government has made steel one of its priorities.
In September they signed-off a Grant Funding Agreement with Tata Steel, allowing the steelmaker to proceed with its plan to invest £1.25bn in a state of the art electric arc furnace (EAF) at the site in Port Talbot, inclusive of £500mn in Government funding.
Further commitments have been made regarding an Industrial Strategy and a Steel Strategy, which aims to support the industry’s transition to greener technologies, whilst also creating confidence and incentivising inward investment.
Despite this, further commitments are needed with regards to a wide range of key policy areas.
As Tata Steel UK looks towards its future and green steel production via an EAF, expected to be operational by the end of 2027 subject to the relevant planning and regulatory approvals, it has mapped out its key asks of the Government to ensure that that the UK steel industry thrives within a competitive and forward-looking environment.
In its most recent policy briefing, published today, Tata Steel UK is urging the UK Government to:
- Partner with the steel industry to capitalise on the opportunities offered by the future growth of UK manufacturing
- Address UK industry’s high energy costs
- Resolve the threat of carbon leakage and secure the UK’s carbon border
- Place scrap steel at the heart of the green, circular economy
- Ensure the UK is protected from global steel overcapacity
- Support UK Steel producers through increased public procurement
- Put UK steel at the heart of the green economy
Commenting on the briefing document, Head of Public Affairs and Community Tom Evans said: “This Government has several challenges to address in order to create a sustainable future environment for the UK steel industry.
“Tata Steel has long pushed for a clear and strong industrial strategy that encourages investment, growth and competitiveness in the UK.
"We are urging the Government to consider our key policy asks, alongside those of our partners in the sector, to create a sustainable steel industry that can support with the growth of renewable energy, domestic manufacturing and employment across Wales and the UK.”
Access the policy briefing in full here.