Calls for independent advice for Shotton steel workers following renewed pensions bid by city financier

Plaid Cymru Shadow Cabinet Secretary for Business, the Economy and Finance Adam Price AM has called for independent advice for steel workers in Wales now that it has emerged that there is more than one deal.

During a full session of the Assembly yesterday, Cabinet Secretary for the Economy Ken Skates confirmed that Excalibur’s bid – which has been supported by the Welsh Government – continues to be a live bid.

This follows Reuters reports that city financier Edi Truell is also fronting a bid for the British Steel Pensions Scheme without cutting benefits.

[miptheme_quote author=”Hannah Blythyn AM for Delyn” style=”boxquote text-left”]Today in the National Assembly I’ve put pressure on Tata – as well as the UK government – to act without delay to provide a clear strategy on the future of the UK steel industry[/miptheme_quote]

Adam Price AM said that in light of these developments it was “more important than ever” that steel workers were given adequate support in order to enable them to make an informed choice as to which deal represents the best settlement for them.

He reiterated his call for Tata to strengthen its offer to meet the very real concerns expressed by steel workers.
Plaid Cymru’s Adam Price AM said:

“As news of two alternative deals emerge, this represents a clear shift in the dynamic of the situation facing steel workers in Wales.

“It appears that Excalibur’s bid, which has been bankrolled by the Welsh Government, continues to be a live bid. This is alongside the British Steel Pensions Scheme bid fronted by Edi Truell as reported by Reuters.

“This is contrary to the Welsh Government’s claim that there is only one deal on the table.

“Workers have contacted us to say they want independent advice to help them decide what the best way forward is for them.

This is more important than ever, now that it transpires that there is more than one deal on the table.

“In light of these developments, Tata steel now would be very wise to strengthen their offer to meet the very real concerns over pension, investment and employment security expressed by steel workers.”

Hannah Blythyn AM for Delyn called on Tata steel and the UK Government to provide a clear strategy on the future of the UK Steel industry and give clarification over employees’ pensions.

Hannah Blythyn said,

“Shotton Steel and the UK industry as a whole has the potential to not just survive, but to grow and develop in the future. Today in the National Assembly I’ve put pressure on Tata –  as well as the UK government –  to act without delay to provide a clear strategy on the future of the UK steel industry”

“Hard working and committed employees from Shotton Steel and at sites across Wales, are seeking clarity over the future of their pensions and want an end to the continuing uncertainty surrounding the industry.”

“Shotton Steel and its workforce are a foundation of our local community and our industrial sector in North Wales – standing up for them and reflecting their concerns in the National Assembly will continue to be my priority” 

The Cabinet Secretary for the Economy and Infrastructure, agreed with the points made by Hannah Blythyn AM, saying,

“The pensions issue is a non-devolved issue, based on what Hannah Blythyn AM has said and what others have urged, we have to make sure that in the run-up to the ballot, Tata take full responsibility for providing valuable information to workers and ensure that they interact fully with the workforce”

“There’s been much said about the role of UK Government and it’s my belief that there is still time for the UK Government to make a very significant contribution”

Reuters: UK financier makes new offer to take over Tata Steel pension scheme