UK Steel – Spending Review Submission 2025

4 February 2025

UK Steel's priorities for the Spending Review include: 

1. Strategic investment of the £2.5bn committed to the steel sector via the Steel Strategy and National Wealth Fund to decarbonise and rebuild the UK steel industry
2. Establish truly competitive electricity prices for the steel sector through uplift to network charge compensation and addressing wholesale electricity prices
3. Mitigate late implementation and ensure robustness of the UK Carbon Border Adjustment Mechanism
4. Ensure continuation of indirect compensation
5. Abolish the Carbon Price Support Mechanism