Tata Steel seeks more UK government funding
Sky News reported that Tata Steel has asked Whitehall for additional UK government funding, possibly amounting to hundreds of millions of pounds, as the steel sector faces a prolonged crisis from a glut of cheap steel. The company already received a £500m grant in 2023 toward a £1.25bn investment at Port Talbot to build an electric arc furnace, but delays now push the EAF start from early 2028 to late 2028 or early 2029. The approach has been briefed to business secretary Jonathan Reynolds and raises questions about government industrial priorities and public spending.
Tata Steel has asked UK government for additional funding.
Context
The steel sector has been in crisis because of a glut of cheap steel. Tata Steel won a £500m grant in 2023 to build an electric arc furnace at Port Talbot. The company has now asked Whitehall for hundreds of millions more and the…
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