House of Commons · Written Ministerial Statement
Steel Strategy – The Plan for Steel consultation
24 February 2025 · Department for Business and Trade
Proposed by Sarah Jones Lab Croydon West
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- UK government is consulting stakeholders on its 'Plan for Steel' strategy.
- The strategy includes simplifying procurement processes and implementing cost-saving initiatives.
- Up to 2.5bn in funding from the National Wealth Fund is proposed for the steel industry.
Issue summary
The statement addresses the UK government's plan to support the steel industry through a new strategy called 'The Plan for Steel'.
Action requested
The Government is consulting stakeholders on its planned approach to the steel strategy, which includes simplifying procurement processes, delivering cost-saving initiatives like electric arc furnaces, and providing up to £2.5bn in funding from the National Wealth Fund. The consultation will help shape the final document set for publication in Spring 2025.
Key facts
- Steel is essential for modern economies, supporting jobs and living standards.
- Up to £2.5bn will be available through the National Wealth Fund for the steel sector.
- A consultation document was published on Sunday 16 February 2024 seeking feedback until 30th March.
- The Steel Council, a body of industry experts and representatives, meets regularly to inform strategy development.
- The final 'Plan for Steel' is set for publication in Spring 2025.