Iron and Steel: Manufacturing Industries

Department for Business, Energy and Industrial Strategy written question – answered on 30th July 2019.

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Photo of Sandy Martin Sandy Martin Shadow Minister (Waste and Recycling)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what funding the Government plans to allocate to the modernisation of the UK steel industry.

Photo of Nadhim Zahawi Nadhim Zahawi Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The Department commissioned independent research to identify high value opportunities for UK steel, worth up to £3.8 billion a year by 2030. We have made clear to the sector that we are keen to work with them to support their future investment proposals to secure these future opportunities as part of a steel sector deal. We stand ready to work with the sector as soon as their proposals are ready.

In addition to this, we have been encouraging the UK steel sector to submit competitive proposals for UKRI funds, including Transforming Foundation Industries, and work with us to shape future funding programmes, such as the Industrial Energy Transformation Fund, to further improve their efficiency and competitiveness.

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