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Trump Tariffs Risk to £2 Billion UK Steel Industry

Tuesday, June 5, 2018

TRUMP’S TARIFFS JOBS RISK TO £2 BILLION STEEL INDUSTRY REVEALED IN GMB ANALYSIS

Constituency breakdown shows the ten constituencies which could be hardest hit including Aberavon, Scunthorpe and Newport East

The UK parliamentary constituencies most at risk from Donald Trump’s steel tariffs are revealed in GMB analysis.

Trump protectionist administration has slapped a 25% tariff on steel and a 10% tariff on aluminium, citing national security interests. [1].

Britain's steel industry directly contributes £2 billion to the economy every year, official figures show. [2]

The findings emerge as GMB’s 101st annual congress takes place in Brighton this week.

In total, more than a billion pounds are paid in wages to steelworkers across the country each year.

That adds up to more than £230m paid to the exchequer in tax and national insurance contributions.

The constituency most at risk is Aberavon, where 4,200 people work in the steel industry. [See note 3 for full list of constituencies]

Scunthorpe [3,060] has the second most number of steel jobs, followed by Newport East [1,250].

The full top ten is as follows:

 

Employment

Earnings, and income tax plus NI payments

Parliamentary constituency 2010

Total

Total earnings contribution

Tax payments

Aberavon

4,200

£143,529,600

£31,722,216

Scunthorpe

3,060

£105,262,280

£23,332,929

Newport East

1,250

£43,116,250

£9,568,850

Corby

1,020

£28,434,010

£5,648,550

Rotherham

970

£32,946,260

£7,261,604

Leeds Central

950

£26,746,600

£5,345,366

Sheffield South East

865

£28,563,820

£6,214,404

Cardiff South and Penarth

850

£28,983,800

£6,399,538

Alyn and Deeside

840

£28,798,720

£6,374,139

Penistone and Stocksbridge

810

£27,854,480

£6,173,463

The levies have now been imposed on the EU, Canada and Mexico, after they were previously granted exemptions.

Tim Roache, GMB General Secretary, said:

“These figures hammer home the potential harm of Donald Trump’s tariffs.

“The UK has more than 30,000 steel jobs. These tariffs could have a devastating impact on jobs, steel communities and the wider UK economy.

“This Government needs to stand up for our steel industry and UK manufacturing, not leave us at the whim of a protectionist President who will only ever put America first."

ENDS

Contact:  GMB Press office 07958 156846 press.office@gmb.org.uk

Notes to editors:

[1] https://www.bbc.co.uk/news/business-44306941

[2] ONS, UK GDP (output approach) low-level aggregates, industrial code 24.1-3, current prices (2017), published 25 May 2018 https://www.ons.gov.uk/economy/grossdomesticproductgdp/datasets/ukgdpolowlevelaggregates

[3] Contact GMB  Press Office for spreadsheet

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