Britain’s economy can’t run on industrial nostalgia Opinion Just because an area like Port Talbot once supported a particular industry like steel, there’s no reason the state must ensure it always does, says Eliot Wilson When the government announced last month that it would give Tata Steel £500m to modernise its facility in Port Talbot, I noticed a revealing remark. The business and [...]
Port Talbot shows what ‘tough decisions’ really look like Opinion The government’s £500m rescue package for the Port Talbot steelworks is an unsatisfactory trade-off between job losses and industry efficiency, says Eliot Wilson Was it a welcome reprieve or another sad measure of decline? Last week the business and trade secretary, Jonathan Reynolds, announced a revised deal with Tata Steel to provide a £500m subsidy [...]
Election 2024: Starmer won’t put figure on keeping Port Talbot steelworks open Battle for No10 Sir Keir Starmer has refused to say how much money he would be willing to spend to prevent Tata Steel’s Port Talbot plant closing.
Port Talbot is what happens when governments let industries fail March 26, 2024 The closure of the iconic blast furnaces proves we need an industrial strategy fit for the modern age, says Virginia Sentance For generations, two blast furnaces shaped Port Talbot’s skyline. This year they are shutting down, threatening 2000 jobs, not to be replaced with an alternative until 2027. Despite talks with the Government, trade unions, [...]
Creeping steel demand could threaten UK offshore wind projects March 25, 2024 Rising demand for steel in the UK, and the potential price spikes that could follow, could delay the future expansion and development of British offshore wind projects, a new report has warned.
The ‘biggest climate law ever’? What CBAM means for the UK December 19, 2023 “The biggest climate law ever in Europe, and some say in the world,” Peter Liese, lead negotiator for the European Parliament said. In reference to the Paris Agreement? Europe’s New Green Deal? Biden’s IRA? Nope – Liese was describing the carbon border adjustment mechanism, known to nerds by the catchy acronym CBAM. This wonkish-sounding legislation [...]
It would be senseless to delay a tax supported by greenies and the steel industry November 16, 2023 Implausible though it sounds, businesses in Britain are clamouring for a new tax this Autumn Statement. Even more unlikely, both heavy industry and environmentalists are aligned in wanting it. That’s right, the unsexily-titled carbon border adjustment mechanism (which parades around the punchy acronym CBAM) has managed a feat few thought possible: the union of greenies [...]
British Steel: £1.25bn green furnace upgrade announced as 2,000 job losses feared November 6, 2023 British Steel has announced plans to shut its blast furnace in Scunthorpe in its bid to go green with £1.25bn upgrade plans.
Tata Steel: Up to 3,000 Port Talbot jobs saved – for now November 1, 2023 Up to 3,000 steelworkers at Tata Steel’s Port Talbot plant have been granted a temporary reprieve after an expected announcement on job cuts has apparently been pulled.
Sector and unions welcome Labour plans to invest £3bn in UK steel industry October 23, 2023 If Labour is elected, the party says the UK's steel industry can expect a £3bn investment.