Many of the challenges facing the UK steel industry today are long-running and have led to crises in the past. Without fundamental reform of energy pricing and a clear decarbonisation strategy, the sector will fail to attract much needed investment and continue on a path of accelerating decline. The Government’s rhetoric on the strategic importance of the sector must be matched by supportive policy.

Many of the challenges facing the UK steel industry today are long-running and have led to crises in the past. Without fundamental reform of energy pricing and a clear decarbonisation strategy, the sector will fail to attract much needed investment and continue on a path of accelerating decline. The Government’s rhetoric on the strategic importance of the sector must be matched by supportive policy. Type: conclusion | Number: 39 | Paragraph: 196 | Response status: under_consideration Government response: 43. We recognise this is a worrying time for businesses facing pressures due to the significant increases in global gas prices, and the subsequent increases in electricity prices. Extensive engagement with industry continues across Government at both a ministerial and official level.