THE Government is creating a £2.5billion steel industry fund and giving £500million in subsidies to the owner of Port Talbot, despite failing to save 2,500 jobs.The Government is creating a £2.5b steel industry fund and giving £500m in subsidies to the owner of Port Talbot, despite failing to save 2,500 jobsUnions have argued about the risk to industrial jobs from the Government’s push to reduce carbon emissions.
He highlighted his £2.5billion fund and said he would set out a new strategy for the sector in the spring.Mr Reynolds said: “Our steel strategy will set forth a positive vision for the future of the industry.” Tata says the new site will preserve 5,000 jobs and reduce carbon emissions at the site by 90 per cent.Mr Reynolds added: “While this deal is much improved, I acknowledge it falls short of what would be ideal.”