Port Talbot steelworkers and their families affected by the recent furnace closures will receive grants of up to £10,000 to start their own businesses, the Welsh Secretary will announce on Saturday. As Labour’s annual Welsh conference takes place in Llandudno, Jo Stevens will confirm that the government is allocating £80 million to support 2,800 Tata steelworkers and local businesses.
Stevens plans to emphasize that Wales now has “a powerful voice at the cabinet table once again,” after years of being sidelined under previous governments. Keir Starmer will also take the stage during the conference in his first Welsh address as Prime Minister, following Labour’s sweeping victory in Wales, where the party secured 27 of 32 seats in July, leaving the Conservatives without representation in the region.
Despite Labour’s stronghold in Wales, there are growing concerns about the Reform Party gaining traction, as evidenced by Nigel Farage’s recent visit following Donald Trump’s U.S. victory. Polls indicate that Reform could pose a challenge in the upcoming Senedd elections.
During his speech, Starmer will call for “nothing less than national renewal,” insisting that real change must be deeply felt across the nation. “Change can’t be limited to small movements on a graph,” he will say. “It must be comprehensive and transform the nation from within.”
Starmer is also expected to announce that a £160 million investment zone in Wrexham and Flintshire will proceed next year.
Stevens, in her address, will acknowledge that talk of “industry and economic growth” may sometimes seem disconnected from daily life. She will stress that Wales’s economic future depends on job creation, community investment, and youth opportunities. The grants for Port Talbot families will be part of a broader business growth initiative aimed at supporting established firms seeking to expand their impact on the local economy. Eligible businesses could receive between £25,000 and £250,000 based on their specific needs.
The steel industry in south Wales has suffered significant setbacks, with the closure of blast furnace 5 in July resulting in at least 2,000 job losses and widespread economic disruption to the community, which heavily depends on the steelworks.
In addition, the government has introduced a business resilience fund to support local businesses affected by Tata Steel’s ongoing green transition. This fund aims to help companies diversify into emerging markets, create jobs, and explore growth sectors such as low-carbon energy. Grants will range from £2,500 to £25,000.
This new funding allocation, part of the £80 million announced in Rachel Reeves’s first budget, will fully finance the transition board and offer essential support to Welsh workers.
Stevens will take aim at Kemi Badenoch, the former Conservative business secretary, accusing her of failing to deliver on an earlier promise of an £80 million transition fund. “Kemi Badenoch sold a lie to steel communities and called it a victory. Conference, I’m not buying it,” Stevens will assert. “I fought hard for this funding, and Labour’s first budget has delivered it in full. Wales’s voice is powerful once more.”
She will conclude with a message of hope for local businesses and individuals: “To the café owner worried about footfall, the steelworker dreaming of entrepreneurship, and the business aiming to grow or adapt—this fund is for you. This is real change in action.”
Labour insiders believe the new funding allocation will provide an immediate safety net for workers and businesses while demonstrating Labour’s commitment to economic growth and clean energy initiatives, including laying the groundwork for floating offshore wind projects.
