At first glance, a £500 million government investment into a critical industry looks like a move designed to inspire confidence. But the large sum will provide little comfort to the 2,500 people expected to lose their jobs as Tata Steel close the UK’s last blast furnace at Port Talbot in south Wales. And nor is it enough to guarantee the long-term future of British steel making.
But it will make it greener. The government money will be used to support a transition to electrically powered steel production, which will be more energy efficient and less carbon intensive.
