IOM3 responds to government’s plan for steel
IOM3 has submitted a response to the UK government's steel strategy consultation.
The Department for Business and Trade launched a consultation seeking views on the UK steel industry and its future. It explored the wider direction that the UK steel sector should take, as well as the details of the proposed steel strategy.
IOM3 submitted a response informed by the expertise and experience of members, including contributions from the IOM3 Iron and Steel Group.
The submission highlighted the strengths of the UK steel sector from world-leading research, development and innovation, to progress on the transition to low-carbon steel, and the availability of scrap in the UK. It noted that despite its advantages, there are also major challenges facing the domestic steel industry that threaten its viability. The cost of operations, including high energy prices, presents a major barrier, as well as decades of low investment, and strong competition from international steel suppliers.
A key issue highlighted throughout the IOM3 response is the challenges faced by the sector concerning skills. This includes outdated public perceptions, an ageing workforce and an insufficient talent pipeline. A proper plan for skills and training, including action on equity, diversity and inclusion, is necessary to secure the skilled workforce required to deliver a competitive steel industry.
IOM3 also called for greater regulatory and policy stability, welcoming the development of the strategy as an important step towards this. Strategic planning and mapping of UK steel making will be essential to ensure the UK is well positioned to take advantage of the transition to low-carbon steel and is recognised as a competitive.
The response also highlights the importance of innovation, explores actions the UK government should take to encourage greater circularity, and discusses which international markets have potential for UK steel exports.
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