UK Steel Strategy

Debate between Baroness Lloyd of Effra and Lord Jones

Monday 23rd March 2026 Lords Chamber

[Lord Jones (Lab)]

I ask, for Wales, if the Minister can help.

[Baroness Lloyd of Effra (Lab)]

My noble friend brings his experience and wisdom to the House. Welsh steel is expected to account for half of future UK steelmaking. As he will be aware, we have also invested £500 million in the electric arc furnace in Port Talbot. In addition to that, the Secretary of State for Wales will convene the National Wealth Fund and the private sector in a new initiative to help unlock investment in Welsh steel projects to help and support communities across Wales that rely on the industry.