Thousands of jobs across South Wales have been secured following the start of construction on Tata Steel’s electric arc furnace at Port Talbot.
Here in Llanelli, we have a proud history of steelmaking. This news will not only safeguard steel jobs in Trostre but also those reliant upon local small-to-medium sized engineering firms being able to benefit from the opportunities this and other planned projects in our region will bring now and in the longer term.
Made possible by a £500m UK Government grant provided as part of the improved deal for Port Talbot’s transition which Labour negotiated after only 10 weeks in office, it is a major win for Welsh steelmaking and manufacturing.
Other measures that have been introduced to support the industry include slashing energy costs for producers, strengthening the UK’s steel safeguard measures and bolstering rules to ensure UK-made steel is considered for use on public projects. We’re also working closely with the US to secure the removal of 25% tariffs on steel and aluminium.
The UK Labour Government acted decisively to ensure that steelmaking in South Wales will continue for generations to come, backing Tata Steel, along with £80 million to support workers and the wider community affected by the transition. Our Steel Strategy will also deliver up to £2.5 billion of investment to rebuild the UK industry.
Construction of the new furnace realises the promise we made to the community, while development of floating offshore wind, plans for a Celtic Freeport and millions more for regeneration all mean that the economy here in South West Wales can and will have a positive future.
I’m looking forward to continuing to work alongside local businesses, entrepreneurs and others to ensure Llanelli attracts its fair share of investment in skills, infrastructure and new jobs as part of this.