Rachel Reeves, the Chancellor, emphasized the importance of the steel sector to the UK economy ahead of an expected announcement from Tata Steel regarding the loss of 2,500 jobs at its Port Talbot plant. The government is also set to confirm a £500m support package for a new electric furnace at the plant as the last blast furnace is closing. Reeves highlighted the government’s commitment to aiding the transition to green steel and preserving jobs through partnerships with businesses and trade unions.
In other news, early prison release in England and Wales faced criticism from the Tories as they claimed it was an unnecessary “mass amnesty” due to prison overcrowding caused by the government’s decision to prioritize public safety over prisoners during the pandemic.
On the economic front, Keir Starmer is set to face PMQs amidst stalling growth figures, with two consecutive months of no growth reported in July. Starmer and Reeves have emphasized their focus on boosting growth and tackling long-standing economic issues despite acknowledging that change won’t happen overnight.
Meanwhile, Amazon’s cloud computing arm announced an £8bn investment in the UK to build data centres supporting customers in London and the west of England, with previous Treasury work under Jeremy Hunt noted. Antony Blinken, the US Secretary of State, and David Lammy, the UK Foreign Secretary, have arrived in Kyiv for a press conference. Farage criticized the TUC’s increasing politicization following an attack on Reform UK leaders, while James Cleverly rejected claims of being too centrist to win the Tory leadership contest.
Source
Photo credit www.theguardian.com
