Reeves says steel is ‘vital part’ of economy ahead of statement about Tata plant in Port Talbot
As Jack Simpson reports, Tata Steel is expected to announce the loss of around 2,500 jobs at its plant in Port Talbot. The government is also due to confirm a support package worth £500m for a new electric furnace there. But the jobs are going because the last blast furnace is closing. A statement in the Commons is expected later.
Speaking to broadcasters this morning, Rachel Reeves, the chancellor, said the government regarded steel as a “vital part” of the economy. She said:
The steel sector is incredibly important for the UK economy and we’re working in partnership with business and trade unions to help that transition to green steel, which is what businesses are looking for today in construction projects, whilst also preserving jobs.
We’ll be making further detail available later today, but the steel sector is a vital part of our UK economy.
Key events
Some of Keir Starmer’s critics complain that he overdoes the gloom and negativity when talking about the outlook facing the country. A speech he gave in Downing Street in August is remembered as the ‘things can only get worse’ speech, after he told his audience: “Frankly – things will get worse before we get better.”
But he may be revising the message a bit. Yesterday he held a briefing with Scottish lobby journalists in Downing Street, embargoed until today, and, according to the PA Media report, he told them his government offered a “big message of hope”, despite having had to make decisions which “appear gloomy and hard”.
Starmer said:
There is massive hope in this, what we want to do, the change we want to bring about is massive.
It is to make sure the economy is not only growing but growing across the whole of the United Kingdom, including in Scotland, which will be measured in living standards rising, people feeling better off in a material way.
It will be interesting to see if he tries using language like this at PMQs.
Reeves says steel is ‘vital part’ of economy ahead of statement about Tata plant in Port Talbot
As Jack Simpson reports, Tata Steel is expected to announce the loss of around 2,500 jobs at its plant in Port Talbot. The government is also due to confirm a support package worth £500m for a new electric furnace there. But the jobs are going because the last blast furnace is closing. A statement in the Commons is expected later.
Speaking to broadcasters this morning, Rachel Reeves, the chancellor, said the government regarded steel as a “vital part” of the economy. She said:
The steel sector is incredibly important for the UK economy and we’re working in partnership with business and trade unions to help that transition to green steel, which is what businesses are looking for today in construction projects, whilst also preserving jobs.
We’ll be making further detail available later today, but the steel sector is a vital part of our UK economy.
Keir Starmer to face PMQs as latest figures show economy stalling over summer
Good morning. Keir Starmer faces PMQs later today. It is only his third as prime minister, but there is not much novelty factor left, perhaps because his non-performative, serious, ‘government of service’ focus has been evident for some years. This afternoon he is likely to face more questions about the decision to means-test the winter fuel payment. But growth figures out this morning are also important – not because they reflect badly on the government (Labour was not even in office at the start of July), but because they illustrate the size of the challenge it faces.
Starmer and Rachel Reeves, the chancellor, say boosting growth is their top priority. But this morning’s figures show that, in July, there was no growth at all. It was the second month in a row where the economy flatlined. Larry Elliott has the details here.
And Julia Kollewe has reaction on her business live blog.
Commenting on the figures, Reeves said:
I am under no illusion about the scale of the challenge we face and I will be honest with the British people that change will not happen overnight.
Two quarters of positive economic growth does not make up for 14 years of stagnation.
That is why we are taking the long-term decisions now to fix the foundations of our economy.
Here is the agenda for the day.
10am: MPs start voting in the ballot to elect new select committee chairs. It closes at 4pm, and results should be announced in the early evening.
Noon: Keir Starmer faces Rishi Sunak at PMQs.
Afternoon: David Lammy, the foreign secretary, is expected to hold a press conference in Kyiv with Antony Blinken, his US counterpart.
After 12.30pm: Jonathan Reynolds, the business secretary, is expected to make a statement in the Commons about the future of the Tata steelworks in Port Talbot.
After 3.40pm: Peers debate the regulations to means-test the winter fuel payment.
Also, the government is publishes its renters’ rights bill at some point.
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