UK Steel welcomes Government’s ‘Plan for Steel’ consultation

17 February 2025

UK Steel welcomes the announcement by Business Secretary Jonathan Reynolds that Government has launched the Plan for Steel Consultation. This marks a significant commitment to tackling the key challenges facing our industry, including high electricity costs, unfair trading practices, and the need to strengthen domestic scrap steel recycling, with Trump’s tariffs being the latest in a number of international trade and competitiveness hurdles. 

The Government’s £2.5 billion investment through the National Wealth Fund has the potential to transform steelmaking regions such as Scunthorpe, Rotherham, Redcar, Wales, key areas across Yorkshire and Scotland, and beyond. This funding will modernise steel production and identify gaps in our steel-making capability to meet future steel demands, ensuring a sustainable and globally competitive UK steel industry. 

Recent developments highlight the Government’s growing support for the sector. The Heathrow Airport expansion, requiring 400,000 tonnes of steel - equivalent to the amount used in the Empire State Building - demonstrates the potential for public and private projects to strengthen UK steel supply chains. Additionally, measures to simplify public procurement show a clear drive to level the playing field for UK steel producers. 

The launch of this consultation is a pivotal moment for our industry. It invites investors, businesses, experts, workers, and communities to help shape the future of UK steel. By working together, we can develop a strategy that not only revitalises our sector but strengthens the wider UK economy. Steel remains the backbone of a strong and prosperous Britain. 

UK Steel is committed to working closely with the Government and all stakeholders to ensure this strategy delivers meaningful change, securing a stronger, greener, and more competitive future for UK steel.