Nair emphasized that a sustainable domestic steel industry must be built on a policy framework that supports investment, protects jobs, and ensures a level playing field for local producers. He underlined that steel is a strategically important industry and a cornerstone of the UK economy and manufacturing sector.
In his statement, Nair argued that the final quota levels published by the government do not reflect the actual conditions of the UK market or the pressures faced by domestic producers. He noted that, in many product categories, the quota volumes continue to allow significant levels of imports into strategically important steel markets, placing additional pressure on domestic production and supply chains.
Referring to the government's target of meeting 50% of the UK's steel demand through domestic production, Nair said that achieving this objective would require quota arrangements that provide stronger support for local producers and encourage the long-term growth of the sector.
Nair also expressed disappointment with certain elements of the current framework, warning that they raise concerns about the long-term competitiveness, sustainability, growth prospects, and investment outlook of the UK steel industry.
Furthermore, Rajesh Nair called on the government to reconsider certain aspects of the existing regime and work closely with the steel sector to establish a more balanced framework that supports domestic production, safeguards employment, and strengthens the wider manufacturing supply chain.
Comments
No comment yet.