Business Secretary Kemi Badenoch announced a £500 million support package for Tata Steel, emphasising its role in preserving skilled jobs in Wales. Badenoch described the proposal as historic, highlighting its impact on protecting Welsh jobs and promoting the UK steel industry while boosting the national economy.
She said that without the investment “we would probably have seen the end of steel making, certainly in this part of the country, if not in the whole of the UK.” Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
She said that without the investment “we would probably have seen the end of steel making, certainly in this part of the country, if not in the whole of the UK.” Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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NewsTranscript
00:00 We are saving jobs which would have been lost.
00:03 Without this investment, we would probably have seen
00:05 the end of steelmaking, certainly in this part
00:08 of the country, possibly in the whole of the UK.
00:10 This is a transformation project.
00:12 We're paying 500 million pounds to transform Port Talbot
00:17 into a green steelmaking industry,
00:19 and that's definitely something to be celebrated.
00:21 This is good for the taxpayer.
00:22 This is good for the workforce, because actually,
00:24 when we do have new electric arc furnaces,
00:27 we're going to be able to have many more industries.
00:30 We can have offshore wind.
00:31 There'll be a whole redevelopment of the site.
00:33 This is actually a great deal, not just for Port Talbot,
00:37 but for the UK.
00:38 And what I would say to people who are concerned
00:40 about job losses is that we do understand,
00:43 and we have a transition plan in place
00:45 that's funded up to about 100 million pounds
00:48 to make sure that people have skills to retrain
00:50 and move on to other things if they don't want to stay
00:53 in the steel industry.
00:54 But this plant is going to be continuing.
00:56 It'll continue to be a processing plant.
00:57 and be up and running throughout that period.
00:59 So this is a good new story.