The Chancellor of the Exchequer recently visited Tata Steel’s plant in Port Talbot, where he said that the Government was committed to UK manufacturing.

Speaking at the UK’s largest steel plant, which produces more than five million tonnes of steel per year and employs more than 4,000 people, George Osborne said: “I want to ensure that our manufacturers are not priced out of international competition. I also want to give assurance to companies like Tata and the 18,000 people working for them that this Government is on the side of the makers.”

Karl Koehler, chief executive of Tata Steel’s European operations, said: “The measures announced in last month’s Budget to introduce relief against the rapidly rising costs of energy taxes, which pose a very real risk to Britain’s foundation industries, are extremely welcome.”