I welcome the announcement that the Government will work towards the public acquisition of Speciality Steel UK (SSUK).
UK steel is vital for our economy and security. We produce some of the best steel in the world in South Yorkshire and it supports thousands of good jobs.
Since the 2013 national steel summit in Rotherham, as a local MP, I’ve worked with steel company directors, trade union leaders and MPs of all parties to level the playing field for UK still firms.
The Government is delivering the UK’s first ever Steel Strategy, setting out a long-term plan to rebuild the sector, attract investment and position the UK as a world leader in clean, modern steel production.
The Government is backing the transformation of the sector with up to £2.5 billion of support, alongside reforms to improve competitiveness, drive demand for UK-made steel and support decarbonisation.
You can read the details of the announcement by the Business Secretary, Jonathan Reynolds, at the link below.
https://www.gov.uk/government/news/government-moves-to-acquire-speciality-steel-uk