The £13m Funding for Port Talbot to Support Those Affected by Steelworks Job Losses
Neath Port Talbot Council has revealed plans for a crucial role in aiding businesses and individuals impacted by recent changes at Tata Steel, thanks to funding released by the UK government. This funding, totaling £13.5 million, is the first installment from the Tata Steel/Port Talbot Transition Board fund, part of a larger £100 million fund established in 2023 to assist those affected by developments at the town’s steelworks site.
- The release of £13.5 million aims to support local businesses that heavily rely on Tata Steel, enabling them to explore new markets and customers as needed.
- Additionally, the funding will be accessible to workers affected by these changes, offering opportunities for retraining and acquiring new skills for employment.
Council leader Steve Hunt highlighted the significance of this support at a recent council meeting, emphasizing the growing number of businesses and individuals requiring assistance due to ongoing transformations at the steelworks. He commended the Secretary of State for Wales for promptly releasing the funds, allowing agencies like the council to prepare for an influx of businesses and individuals seeking aid in the months ahead. Looking ahead, Hunt outlined the Transition Board’s focus on replacing lost jobs in the local economy.
Labour leader Rob Jones acknowledged the positive impact of the £13 million funding while underscoring the enormity of the economic challenges facing the area. He stressed the need for additional resources to address job losses and mitigate the effects on local businesses. Despite the welcomed funding, Jones expressed concerns about the broader economic repercussions and the necessity for further financial support.
In the wake of Tata’s recent closure of a blast furnace in July 2024, with plans for the closure of another furnace pending, the funding offers a lifeline for affected businesses and workers in Port Talbot. The community awaits further developments as efforts continue to stabilize and revitalize the local economy in the face of industrial shifts.