Commenting on the outcome of today’s steel summit, Gareth Stace, Director of UK Steel, said:
“We asked Government to sit down and listen to the needs of the steel industry and take decisive action to support us. They have listened and promised to take action. The Secretary of State has committed to support the compensation package for energy intensive industries such as steel, and to ensure that state aid approval is secured as soon as possible.
“While it may have been too much to expect immediate decisions, we are cautiously optimistic that the urgent recommendations we have made – from compensation to cut the cost of energy to tackling unfair dumping of steel by China – are all now at the top of the Secretary of State’s to-do list.
“But, I cannot emphasise enough that there is an urgency here and very little time before we start to see more job losses and companies facing intolerable pressure. This really is about saving Britain’s steel industry and time is of the essence.”