The Neath Port Talbot Council has announced the release of £13 million in funding from the Tata Steel/ Port Talbot Transition Board fund to support businesses and individuals affected by changes at Tata Steel. This funding is part of a larger £100 million transition board established in 2023 to assist those impacted by developments at the site.
During a recent full council meeting, Council Leader Steve Hunt highlighted the importance of the funding in providing support for businesses heavily reliant on Tata Steel and aiding workers in transitioning to new opportunities. The closure of a blast furnace in July 2024, with plans for another closure imminent, has necessitated assistance for affected parties.
The funding will enable local businesses to seek new markets and customers while offering retraining opportunities for affected workers. Cllr Steve Hunt expressed gratitude for the government’s prompt release of funding, enabling agencies like the council to prepare for increased demand for support services.
Labour leader Rob Jones acknowledged the positive impact of the funding but emphasized the need for additional resources to address the economic challenges facing the local community. As changes at Tata Steel unfold, the council aims to focus on both immediate assistance and long-term job replacement strategies.
The release of £13 million marks a crucial step in supporting those impacted by steelworks job losses in Port Talbot. However, stakeholders acknowledge the ongoing need for comprehensive support to mitigate the economic impact on the region.