The new Business Secretary, Jonathan Reynolds, said he believes there is a “better deal available” for the South Wales site and the steel industry as a whole, as he confirmed negotiations with Tata were continuing on Sunday.The second blast furnace at Port Talbot is due to be shut down in September.
Business Secretary Jonathan Reynolds leaving BBC Broadcasting House in London, after appearing on Sunday With Laura KuenssbergHe told BBC’s Sunday With Laura Kuenssberg: “There is more money available for the steel industry under our plans for government. Mr Reynolds added: “I do want things in exchange for money we’ll co-invest with the private sector around jobs and technology.“I think that’s a reasonable way to make sure public money is being well spent and I believe there are things, capacities, the steel industry needs in future that could be part of that conversation and that’s what I’ll be having in the next few days.”
“But I absolutely agree with the point that we have to make sure this is a transition that works for working people and that they’re part of that and you can’t simply give money out without guarantees in exchange for that. She added: “My main focus is jobs, pay and conditions for workers so I’m going to either be seen as a critical friend or a pain in the proverbial, whichever they want to take that, because it’s my job to make sure feet to the fire on this.”The Labour manifesto has committed to provide £2.5 billion to “rebuild our steel industry”, with Mr Reynolds noting this was “on top of” the £500 million committed by the previous government.