UK allocates £2.5 billion to support steel industry, tackling high costs and unfair trade.

The UK government has announced a £2.5 billion investment plan to support the steel industry, aiming to secure its long-term future amidst challenges like high electricity costs and unfair trading practices. Funding will be used for initiatives such as electric arc furnaces and will benefit regions including Scunthorpe, Rotherham, and Yorkshire. The plan also responds to US President Trump's proposed tariffs on steel products and follows the approval for Heathrow Airport's expansion, which requires 400,000 tonnes of steel.

5 weeks ago
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