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Steel industry concerned over support timetable

Steel industry concerned over support timetable

The steel industry says more jobs could be cut before the Government delivers support for energy bills, with Gareth Stace, director general of industry body UK Steel, saying British Steel's decision to axe 260 jobs could be the start of a trend in the sector. Ministers have proposed changes that would bring costs faced by the UK's energy-intensive industries in line with those charged in other major economies, with a consultation on the plans set for the spring. Around 300 firms employing 400,000 workers stand to benefit from the changes, which would see them exempt from certain costs and taxes. Mr Stace said the Government’s proposals would go a "long way to bridging the gap" between what UK steelmakers pay compared to competitors in the EU but warned that the time taken to implement them was "particularly concerning."

Read more: BBC News

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