Our 2016 Budget Submission to HM Treasury
UK Steel’s submission ahead of the Budget calls on government to reduce business rates, providing loans to energy efficiency and environmental schemes for the steel industry, providing investments for a catapult centre for the foundation industries and calling for a number of changes to energy policy, including scrapping the Carbon Price Floor.
How can government help
It is well known, that 2015 has been a year of dramatic upheaval and anxiety for the UK steel industry which is currently battling low demand, a rise in often unfairly-traded steel imports, a strong pound, and uncompetitive policy costs.
Against this negative backdrop, our submission focusses on areas where the government can help to offset the challenging conditions the steel industry in the UK currently faces, by creating a level-playing field with the rest of Europe and by helping to increase productivity in the industry.
Without delivery of all of these recommendations, we are deeply concerned by the long term future of steel production in the UK – a sector described as ‘vital’ by the Prime Minister.
Download the Budget Submission to HM Treasury 2016