Commenting on the announcement of a financial package for the steel sector, Terry Scuoler, Chief Executive of EEF, the manufacturers’ organisation, said:
“This is a welcome and extremely positive statement of intent. The Government has said that it is committed to the importance of the steel sector in the UK as a strategic national asset and this announcement shows that it is prepared to put money and action in place to back its words.
“This should put in place the building blocks which should encourage potential investors to come forward to co-invest with Government to ensure a viable future for the steel sector in South Wales and, in the wider UK.”
Gareth Stace, Director of UK Steel, added:
“We have been calling for Government to step up to the mark and provide this type of financial commitment and backing. This is a positive first step which will provide the certainty and continuity that should enable credible investors to come forward and provide a sound future for steel making in the UK.”
“We are not yet out of the woods however. Further action is still needed on energy costs and business rates whilst at EU level, we still need to see tougher action on the dumping of cheap imports. This will then provide the level playing field which will give UK companies a fighting chance to compete.”