Statement on behalf of the Tata Steel/Port Talbot Transition Board
The Tata Steel / Port Talbot Transition Board met for the tenth time on 19 December 2024.
The Tata Steel / Port Talbot Transition Board met on 19th December 2024.
The Secretary of State for Wales and Chair of the Transition Board, Rt Hon Jo Stevens MP, sought endorsement from the Board to announce the doubling of funding to the Employment and Skills and the Supply Chain Transition Funds to 拢30m in total.
The Supply Chain Transition Fund has received significant demand, with almost 40 businesses employing 2,000 people having begun the application process. Grants worth millions of pounds are expected to be released in the new year. The majority of voluntary and compulsory redundancies from Tata Steel UK are expected in the new year, therefore support to businesses and individuals affected will be available during 2025/26. The funding comes from the UK 바카라 사이트바카라 사이트檚 拢80 million to support those affected by Tata Steel바카라 사이트檚 plans to build an electric arc furnace at their Port Talbot site, which will require a reduced workforce.
The Secretary of State for Wales also sought endorsement from the Board for the widening of the eligibility criteria to access the Supply Chain Fund and increasing the overall size of grants. The change will widen the eligibility criteria, so businesses with a 30% exposure to Tata will now be able to apply, a decrease from 50%. 聽There will also be increased Supply Chain Fund grant sizes - with the maximum 바카라 사이트楤usiness Support Grant바카라 사이트� increasing from 拢25,000 to 拢50,000 and the maximum 바카라 사이트楥apital Grant Fund바카라 사이트� increasing from 拢170,000 to 拢250,000. This will mean more businesses can apply, and deepen the support for businesses, workers and the local economy. 聽聽聽
The Board also received updates on:
- Tata Steel UK바카라 사이트檚 decarbonisation programme;
- The Department of Business and Trade바카라 사이트檚 plans for a steel strategy;
- The Community Union Support Hub for affected workers;
- Mental health support services; and
- A communications plan to promote the Transition Board바카라 사이트檚 funding.
Those in attendance included: Rebecca Evans MS, Cabinet Secretary for Economy, Energy and Planning in the Welsh 바카라 사이트; Rushanara Ali, Parliamentary Under-Secretary for MHCLG; Cllr Steve K Hunt, Leader of Neath Port Talbot Council; Frances O바카라 사이트橞rien, CEO of Neath Port Talbot Council; Rajesh Nair, CEO of Tata Steel UK; Dr Henrik Adam, Chair of Tata Steel UK & Vice President of European Corporate Affairs, Tata Steel Ltd; Stephen Kinnock, MP for Aberafan Maesteg; David Rees, MS for Aberavon; Tom Giffard, MS for the region of South Wales West; Luke Fletcher MS for the region of South Wales West; Anne Jessopp CBE; Katherine Bennett CBE independent members of the Board; and Alun Davies, National Officer for Steel & Metals, Community Union.