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Steel Strategy Next Steps
07 January 2025
Type
Written Ministerial Statement
Department
Department for Business and Trade
At a Glance
Issue Summary
The statement addresses the decline of the UK's steel industry and outlines a strategy to revitalise it through policy, funding, and collaborative efforts.
Action Requested
The Government will convene the Steel Council to develop a Steel Strategy by Spring 2025. The Materials Processing Institute will lead an independent review into primary steel production technologies, with up to £2.5bn in funding committed for sector rebuilding.
Key Facts
- Steel production has declined by more than 50% over the last decade.
- A new Steel Council chaired by the Secretary of State and co-chaired by Jon Bolton will guide the strategy development.
- The Materials Processing Institute will lead a review on primary steel production technologies including Direct Reduced Iron.
- Up to £2.5bn funding is committed for rebuilding the sector.
- Full membership details are published on Gov.uk.
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