The UK government is consulting on a new Plan for Steel, which aims to address long-term challenges in the industry, including high electricity costs, unfair trade practices, and scrap metal recycling. The plan includes up to £2.5 billion in funding, as part of a manifesto commitment, to support steel production in key regions such as Rotherham, Scunthorpe, Redcar, Yorkshire, and Scotland.
Funds may be allocated to projects like electric arc furnaces and other technological improvements to strengthen UK steelmaking. The plan also explores expanding domestic production to better support manufacturing, construction, and infrastructure while maintaining global competitiveness. Tariffs, procurement policies, and energy costs will also be reviewed to support industry growth.
