UK Steel: Next Government has real opportunity to enable transformation

by David Fleschen

UK Steel, the British steel trade association, has released a new election manifesto advocating for policies that would create a more equitable environment and enhance the competitiveness of the UK steel industry:

"The UK is in a prime position to lead the world in Net Zero steelmaking, as we sit on an abundance of steel scrap resources critical to the circular economy, we are leaders in renewable energy, and have access to cutting-edge research and innovation. Britain has a long and proud history of steelmaking, and today, the industry supports over 34,000 jobs and world-class British manufacturing.

However, competitiveness is a key prerequisite. The next Government has a real opportunity to enable the transformation and futureproofing of the sector for the long-term benefit of the nation by providing a competitive business environment and a level playing field. This will give the steel industry the means to thrive in a global and highly trade-intensive steel market, while supporting local economies. The steel sector plays a vital role in regional economic equality, providing well-paid highly skilled jobs and bringing investment in Wales, the Midlands, South Yorkshire, and the North East of the UK.

The competitiveness of the steel sector revolves around seven key pillars: electricity, steel scrap, decarbonisation, innovation, carbon leakage, trade defence and public procurement."

Source: UK Steel, Photo: British Steel

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