Net zero transition could see as many as 3,000 job losses, according to reports
The Government is in advanced talks with Tata Steel for a £500m aid package, in a deal that could improve its green credentials but risk thousands of British jobs, according to reports.
The steel company, which is owned by the Indian conglomerate Tata Group, is in negotiations for a deal that would commit more than £1bn to the future of its Port Talbot steel works in South Wales.
The Government would promise £500m of taxpayer money in funding, while Tata Group would sign off £700m of capital expenditure over multiple years, Sky News reported.
Tata Steel has negotiated the funding upwards from £300m over the course of the summer, Sky News said.