EEF: Government need to do more to support steel

“Given the weaker outlook for our economy and global volatility, the Chancellor was right to reinforce the importance of Britain remaining in the EU.

Much of what he said today about stability for future generations will mean nothing if the British people vote to leave. The UK would be in uncharted waters, the consequences of which could be highly damaging.

“Another Corporation tax cut is one important lever in keeping investment growth on track.

The continued inclusion, however, of investment in plant and machinery in business rate calculations is a disappointment for the steel industry in particular.

Government will need to do more to support steel this year.”