A meeting of G20 business ministers has today agreed on the need to dismantle unfair subsidies on steel and arrange better sharing of information on the process of steel capacity reduction. Global overcapacity has been a key cause of the steel crisis over the past few years.
Responding to the news, Roy Rickhuss, General Secretary of Community, the steelworkers’ union, said:
“There are signs the UK steel industry is turning a corner but we are not out of the woods yet. Global overcapacity has been a major factor behind the steel crisis and has already cost us thousands of jobs.
“For many years Community has been calling for our government to stand up for British steelworkers on the world stage and we are delighted that agreement has been reached today on tackling the problem of overcapacity. Tough action on unfair subsidies which lead to ‘dumping’ is particularly important and world leaders must now deliver on today’s promises. The UK steel industry has the potential of a bright and prosperous future, but only if government works in partnership with trade unions and business.
“Today’s announcement was a welcome step in the right direction, and we look forward to working closely with Greg Clark over the coming months to build on these commitments and further strengthen our proud industry.”