Fund will help steelworkers affected by job losses

A new government fund has been announced to help steelworkers affected by job losses to start up new businesses.

Ministers said the aim is to help steelworkers and their families in the Port Talbot area of South Wales affected by recent job cuts at the giant Tata site.

Welsh Secretary Jo Stevens said there will be another £13 million of support from a transition board set up following the job cuts.

It will provide non-repayable grants of up to £10,000 for workers, families and businesses affected by the closure of the blast furnaces at the Port Talbot plant.

It was also announced that two more new support schemes will be launched targeted at firms in the Port Talbot area and businesses in the Tata supply chain, with non-payable grants of £2,500-£250,000 available.

Jo Stevens said: “As a Government we are determined the Transition Board delivers for the steelworkers of Port Talbot, for the region’s businesses and for the community.

“This remains a really difficult time for workers in Port Talbot and their families.

“Many of them will have aspirations to set up their own businesses or become self employed and the £13 million released today will provide vital backing for them to make their plans a reality.

“We said we would back workers and businesses affected by the transition at Port Talbot and we are doing so with more than £26 million announced since July.”

Welsh Government Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans said: “We continue to work with the UK Government and local partners to ensure that our targeted support has the broadest and deepest positive impact on those affected by the transition to an electric arc furnace in Port Talbot.

“Speaking to many across the local community, I know what a difference extending available funding to immediate family will make.

“This is part of our commitment to doing everything within our power to support businesses, households and communities to bounce back and ensure that Port Talbot and the surrounding area continues its proud history as a vital cog in the Welsh economy.”

Neath Port Talbot council leader, Steve Hunt said: “I keenly welcome the announcement of these funding packages to support both start-ups and existing businesses across our community.

“The steelworks have been a lynchpin for our economy for over a century and so changes on this scale impact not only directly-affected workers at Tata Steel, but many other closely connected companies.”

Published: 16/11/2024 by Radio NewsHub