Iron and Steel
The question
To ask the Secretary of State for Business and Trade, if he will commit to increasing domestic steel production.
Answered by Chris McDonald
The steel strategy, to be published in early 2026, will set out a long-term vision for a competitive, decarbonised sector, with the aim of attracting new private investment to secure UK steelmaking and increasing overall levels of UK based production.
We’re providing up to £2.5 billion to rebuild the steel sector, delivered in part through the National Wealth Fund. This is in addition to the £500m we have invested in the transformation of Port Talbot. We have also taken direct action to protect steel production at British Steel and provided a £400 million increase to the investment at Sheffield Forgemasters.
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