UK government launches Steel Council with £2.5 billion investment plan
January 8, 2025
The UK government has launched a new Steel Council, made up of steel sector leaders, industry experts, trade unions, trade associations and devolved governments, as a part of its plans to rebuild the UK’s steel sector and advise on the upcoming Steel Strategy.
Business Secretary Jonathan Reynolds chaired the first meeting of the Council on January 7, 2025, together with co-chair Jon Bolton, Chairman of the Materials Processing Institute – a non-profit research and innovation centre based in the steel community of Teesside.
A secure future for the steel industry is said to be vital to both the UK’s national security and delivering growth, the foundation of the Government’s Plan for Change, and with the launch of the Council the Government is taking another important step towards safeguarding the sector for the long term.
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.
The Council will meet regularly as the Government prepares to launch its Steel Strategy. It will provide a vital link between industry, workers, experts and government in every part of the UK and ensure that both the workforce and economic growth are at the heart of its plans to rebuild the steel sector.
Gareth Stace, Director-General, UK Steel stated, “The establishment of the Steel Council marks a defining moment for the future of steelmaking in Britain. The Council represents a crucial step towards creating a comprehensive Government Steel Strategy – one that lays the foundations for a sustainable and resilient industry.”
“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,” Stace continued. “We are committed to collaborating with the Government, trade unions, and industry partners to turn this vision into a shared success, securing the sustained growth that our sector, its workforce, and our communities rightfully deserve.”
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