UK Government makes plans to secure domestic steelmaking

A new Steel Council will advise on rebuilding the industry and developing the upcoming Steel Strategy.

UK Business Secretary Jonathan Reynolds chaired the first meeting of the Council on 7 January, together with co-chair Jon Bolton, Chairman of the Materials Processing Institute.

The Council will bring together steel sector leaders, such as CEOs from Tata Steel and British Steel, with trade union leaders, industry experts, devolved government representatives and trade associations to address the challenges facing the steel industry and make the changes needed to secure steelmaking in the UK.

It will meet regularly as the government prepares to launch its Steel Strategy.

Reynolds says, '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. With the launch of the Steel Council we’re placing workers and local communities at the heart of our plans as we bring forward up to £2.5bln of investment to secure growth right across the country.

Bolton continues, 'I see the Council’s task being to develop a strategy that details the core elements of that investment plan and to establish a roadmap towards a rejuvenated, competitive and environmentally progressive industry.'

Gareth Stace, Director-General, UK Steel, welcomes the move. 'The establishment of the Steel Council marks a defining moment for the future of steelmaking in Britain...This strategy is a once-in-a-generation opportunity to foster a competitive business environment that encourages long-term investment and ensures steelmaking remains at the heart of the UK economy.'