UPDATE: Government lifeline for Corby steelworkers is welcomed by council leader

Last night business secretary Sajid Javid has announced that the Government would be prepared to take a 25 per cent stake in the steel industry should it help attract a buyer.

The news will be welcomed by nearly 600 steelworkers in Corby who have been concerned that the troubled Tata steel tubes plant would be shut after its owners said they were no longer prepared to keep their UK businesses open.

Mr Javid said that the package would be made up of loans, grants and a possible equity stake.

The Joint Delivery Committee for North Northamptonshire, of which Cllr Tom Beattie is a member, unanimously agreed to support the efforts by central and local government to secure the long term future of the British steel industry at their meeting this week.

The panel will also seek to ensure that all qualifying public sector contracts to be let in North Northamptonshire comply with the new government procurement guidance which means that wider considerations such as social impact, job impacts and staff safety can be taken into account, which will assist in British companies being able to compete on a level playing field.

The North Northamptonshire Joint Delivery Committee was formed to help in the delivery of the significant housing growth planned in the North Northamptonshire area. It is made up of the Borough and District Councils of Corby, Kettering, Wellingborough, East Northants and Northants County Council.

Leader of Corby Council Cllr Tom Beattie said: “Corby was built on steel and many people from the surrounding towns and villages have worked in the Corby plant. Many still do. It is vital to our economic interests. North Northants is the fasting growing part of the fasting growing county in the country. If we are to achieve our ambitions significant infrastructure improvements will be needed. We should be seen to support our local industries when procuring the materials, including steel, needed to build our future communities.”