UK allocates funds to support Tata Steel's decarbonisation
Tata Steel UK's decarbonisation process with the release of an initial GBP 13.5 million of funding, also available to affected workers for them to retrain or acquire new skills for the employment market. In a statement from the Wales Office on Monday, the government said the funding from the Tata Steel/Port Talbot Transition Board fund will support local businesses which are heavily reliant on Tata Steel as their primary customer, allowing them to turn towards new markets and customers where necessary.
At a meeting last week, the board discussed how the funding will be allocated, monitored and evaluated to ensure «value for the taxpayer».
«This funding is an important step towards supporting workers affected by Tata Steel's transition and businesses in the wider supply chain,» said Jonathan Reynolds, UK Business and Trade Secretary.
«We're working in partnership with trade unions and industry to secure a green steel transition that's right for the economy, our talented workforce and local communities for generations to come, and our negotiations with Tata remain ongoing,» he said.
Last week, the Transition Board received an update from Tata Steel UK on the company's decarbonisation project and how it will be supporting those impacted.
Welsh Secretary Jo Stevens announced that more than 50 businesses so far have signed a pledge to support any workers forced to leave their jobs in the Port Talbot steelworks in Wales.
«Negotiations with Tata Steel on the future of the site will continue separately. But this
