Keir Starmer has pledged to ensure the longevity of steel production for future generations by introducing a groundbreaking Steel Strategy.
The Government’s initiative aims to increase the proportion of British-made steel used in the country to 50%, up from the current 30%, benefiting steelworkers nationwide.
The Steel Strategy, unveiled at Tata Steel Port Talbot by Business and Trade Secretary Peter Kyle, is designed to solidify the industry’s support for crucial sectors like infrastructure, defense, and renewable energy.
With a funding commitment of up to £2.5 billion, the strategy will also lower steel import quotas and impose higher tariffs of 50% on imports exceeding the quotas, safeguarding the UK steel sector against global oversupply challenges.
In a statement, the Prime Minister emphasized the importance of supporting British workers and industries, highlighting the significance of utilizing domestically produced steel for economic growth and national security.
Ministers have warned that without intervention, the UK’s steelmaking capacity is at risk, posing a threat to energy security, defense capabilities, and transport infrastructure reliability. The ongoing Save Our Steel campaign by the Mirror has been advocating for the protection of the steel industry since 2015.
Peter Kyle emphasized the critical role of UK steel production in national security and economic prosperity, signaling a shift towards revitalizing the nation’s steel industry and promoting sustainability.
Additional measures outlined in the strategy include facilitating the involvement of steel manufacturers in offshore wind projects, establishing a working group to ensure a stable supply of scrap metal for UK steelmakers, and empowering the Steel Council to enhance productivity and competitiveness.
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