The Chancellor, alongside other Government Ministers, will discuss a range of issues during the UK-China Economic and Financial Dialogue in November 2016.
The steel industry is currently dealing with very challenging global economic conditions, and the Government has been working hard to address the sector’s concerns. This includes successfully pressing the European Commission for higher import duties on several types of steel. The UK also worked with international partners to secure agreement at the G20 Leader’s Summit in China in September 2016 to create a Global Forum on excess steel capacity. Domestically, the Government is compensating firms for energy costs, ensuring social and economic factors are taken into account when procuring steel, and has set up the Steel Council to look at the long term future of the sector.