Iron and Steel: Wales
The question
To ask the Secretary of State for Business and Trade, how much of the £2.5 billion fund to develop the steel industry as set out under the UK Steel Strategy will be spent in Wales.
Answered by Chris McDonald
The steel strategy reaffirms the government’s intention to spend up to £2.5 billion on the steel sector. This is in addition to the £500 million for Port Talbot.
Building on the direct financial support the government has provided to the sector so far, the National Wealth Fund will be the UK government’s main mechanism for providing financing for investment in the steel sector. Investment decisions are made by the National Wealth Fund on a case-by-case basis and it supports promising projects across the United Kingdom
Specifically for Wales, the Secretary of State for Wales will convene the National Wealth Fund and the private sector in a new initiative to help attract investment to Welsh steel projects, to support communities across Wales that rely on the industry.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →