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Welsh steel industry to get £20M boost over next 5 years

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Welsh steel industry to get £20M boost over next 5 years

The troubled Welsh steel industry will get a windfall of nearly £20 million over the next five years as Wales cuts business rates, The Daily Mail reported Oct. 8, citing calculations made by business rates consultancy CVS.

Tata Steel Ltd.'s Port Talbot site, which is under the threat of closure, will get a rates bill cut of £1.7 million per year from April.

British Steel, which Greybull Capital LLP bought for £1 from Tata Steel, will get a cut of just £360,641 in 2017.