Steel industry’s exemption joy

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South Yorkshire steelmakers got a boost from George Osborne’s Budget.

The fine details are still being pored over, but it is clear they and other energy intensive industries will be exempt from the Climate Change Levy when it is introduced next year. Steel chiefs have long complained they would be at a disadvantage to competitors in continental Europe if the Government went ahead with its original plans.

Commenting on the exemptions June Smith, regional membership and external affairs manager for manufacturers’ organisation the EEF, said: “These are welcome exemptions which will bring UK firms in sectors such as ceramics and steel in line with the same tax regime applicable to many EU competitors.

“It also sends a signal that government is committed to these sectors operating on a level playing field and helping boost investment in them.”