Barrett Steel Limited, the UK’s largest independent steel stockholder, proudly welcomed the Chancellor of the Exchequer, Rt Hon Rachel Reeves, to its Scunthorpe site last week for a key discussion on the future of British steel, industrial growth, and the challenges currently facing the sector.
The visit formed part of a broader initiative to engage with UK industry leaders and explore how manufacturing can support a more resilient and sustainable national economy. Chancellor Reeves was joined by Jason Stockwood, Labour’s current candidate for Mayor of Greater Lincolnshire, who is actively championing the region’s steel industry and advocating for wider business resilience.
As global steel markets grapple with rising input costs, increasing regulatory pressures, and the need for urgent decarbonisation, Barrett Steel continues to lead from the front. With over 30 sites across the UK and Ireland and a proud heritage spanning more than 150 years, the business is uniquely positioned to support British infrastructure, construction, and engineering with innovative, customer-focused solutions.
The visit included a tour of Barrett Steel’s Central Processing facility in Scunthorpe, where the Chancellor met with members of the operations team and saw firsthand the investments being made in people, plant, and processes.
Guy Barrett, Chief Executive Officer at Barrett Steel, said: “We welcome the Chancellor’s commitment to engaging with businesses on the ground. As a UK-owned, independent steel stockholder, we know what it takes to stay strong in volatile markets, and we’re proud to contribute to the conversation about how our sector can be a catalyst for sustainable growth.”
The company used the opportunity to highlight key policy areas that will be crucial for maintaining the competitiveness of UK industry, including the urgent need to address energy costs, enhance skills development, and accelerate investment in low-carbon steelmaking and processing technologies.
Joe Newman, Group Operations Director at Barrett Steel, added: “At Barrett Steel, we are committed to continued investment in order to strengthen in the face of current market challenges.”
As the UK steel sector faces increasing pressure to transition to low-carbon operations and adapt to new trade frameworks such as the Carbon Border Adjustment Mechanism (CBAM), Barrett Steel remains a strategic and forward-thinking partner - committed to supporting customers, suppliers, and policymakers through a time of significant industry transformation.