Chancellor of Exchequer George Osborne has visited a Tata Steel plant in South Wales and discussed the British government's plan to promote the manufacturing sector of the country.
Osborne toured key areas of the plant at Port Talbot yesterday and met steel workers who operate Europe's newest blast furnace rebuilt last year as part of almost 250 million pounds of investment in the plant.
Port Talbot is one of the UK's key foundation industries sites, producing a wide variety of sheet steel products and supporting a large number of the nation's manufacturing supply chains as well as the construction industry.
The foundation industries employ half a million people and are responsible for 30% of UK exports.
Welcoming the Chancellor, Karl Koehler, Chief Executive of Tata Steel's European operations, said, "The measures announced in the Budget to introduce relief against the rapidly rising costs of energy taxes, which pose a very real risk to Britain's foundation industries, are extremely welcome.
The Chancellor said, "I want Britain to manufacture things so we build a resilient economy. So, listening to industry, at the Budget I announced a package to cut the cost of manufacturing, with particular support for our energy intensive industries worth 7 billion pound. I want to ensure our manufacturers are not priced out of international competition.
"I also want to give assurance to companies like Tata Steel and the 18,000 people working for them that this government is on the side of the makers. Which is why I'm pleased that Tata Steel has welcomed the support in Budget.
