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Business

Over 2,000 Tata Steel workers apply for redundancy amid major restructuring

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IT has been confirmed this week that at Tata Steel’s south Wales operations, over 2,000 workers have applied for voluntary redundancy as the company embarks on a major restructuring effort. The majority of these applications are from employees at the Port Talbot site, where Tata Steel plans to close its second blast furnace within a month.

The steel giant, which has announced plans to cut 2,800 jobs across the UK, has started the process of assessing whether the roles of those expressing interest in redundancy can be eliminated. The first wave of job losses is expected to occur within the coming weeks.

This redundancy initiative has sparked concern among the workforce and has led to unions pledging to ballot their members on whether to accept the redundancy terms. The terms, described as the most generous ever offered by the company, include a payment of 2.8 weeks’ salary for every year of service, capped at 25 years. Additionally, workers will receive a minimum payment of £15,000 along with an attendance-related bonus of £5,000.

A Tata Steel spokesperson commented: “We are currently working through how people’s aspirations may align with the future organisational structure requirements. While we have made significant efforts to assemble a support package that will assist those affected in transitioning out of the business, it is equally critical that we retain our core knowledge, skill base, and experience during these challenging times.”

The unions representing Tata Steel workers – Community, Unite, and the GMB – have reached an agreement to allow members to vote on the redundancy package. This vote is anticipated to take place in the near future, with union insiders expecting widespread support from staff following extensive discussions with the company.

The restructuring plan will result in 2,800 job losses across the UK, including around 300 positions at Llanwern near Newport, which are expected to be affected in three years’ time. For the 2,500 jobs at risk this year, it is estimated that 300 to 400 workers may face compulsory redundancy. These figures are subject to change as the company and unions navigate the voluntary redundancy process and explore opportunities to redeploy affected employees within the business.

The closure of the second blast furnace in Port Talbot, scheduled for 28 September, will mark the end of steel production from iron ore in south Wales. Tata Steel intends to invest £1.25 billion in constructing an electric arc furnace, which will produce steel by melting scrap metal, as part of its transition to greener technology.

The UK government is expected to finalise an agreement with Tata Steel in early September, providing £500 million in funding for the new electric arc furnace. In addition, Labour has committed a further £2.5 billion towards the future of steelmaking in the UK. Unions have urged the government to allocate some of these funds to other investments in south Wales, such as the addition of a plate mill at the Port Talbot site, which could produce steel plate for offshore wind turbines.

Tata Steel’s spokesperson emphasised the company’s ongoing collaboration with the UK government to finalise discussions around its investment in steelmaking, stating: “Our commitment to ending blast furnace production and investing in greener technology would reduce our carbon emissions by at least five million tonnes a year and support UK steel sovereignty.”

The spokesperson added that the company is working closely with trades union colleagues to finalise a memorandum of understanding regarding the restructuring and transition to green steel. The company expressed hope that union members would soon have the opportunity to vote on these critical issues.

Business

New creative space aims to help revitalise Haverfordwest town centre

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A FRESH initiative is bringing a creative spark to Haverfordwest’s high street, with the opening of a new shared studio space designed to support local artists and breathe life into empty shops.

Breakout Gallery, led by Arthur Brooker, officially opened its doors to the public on Friday, February 14, offering both a workspace and a platform for artists to showcase their work.

Arthur, who has been running Breakout Gallery for nearly a decade, has shifted the focus of the business in response to changing times.

“We initially specialised in selling artwork on commission,” Arthur explained. “But after COVID and the cost-of-living crisis, we needed to rethink our approach. Now, our main goal is to help regenerate Haverfordwest by transforming vacant retail spaces into hubs of creativity.”

The gallery has been redesigned to include individual studio units, allowing artists to rent space to create and exhibit their work.

Beyond the studio, Breakout Gallery is well known for its street exhibitions, which add a vibrant touch to local festivals and events. The team also rents out event decorations and manages a space at Westival.

Arthur is now setting his sights on further expansion. “There’s so much potential in Haverfordwest,” he said. “We’re already exploring another premises to offer even more creative space. It’s all about revitalising the town, one shop at a time.”

In addition to providing studio space, the gallery hosts exhibitions and events, with the next major showcase, Heartbreak Hotel by Harriet Davis, set to open on Friday, February 28. Life drawing and oil painting classes are also being introduced to further engage the local artistic community.

A former director at Haverhub, Arthur is passionate about bringing more artists into the fold and ensuring that Haverfordwest becomes a thriving creative hub.

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Business

Insolvency figures rise as businesses face growing pressures

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CORPORATE INSOLVENCIES increased in England and Wales by 6.4% in January 2025, reaching 1,971 cases compared to December 2024’s total of 1,852. The figure also marks a 10.7% rise from January 2024’s 1,780 cases and a 13.1% increase from January 2023.

Personal insolvencies, meanwhile, dropped by 3.4% in January 2025 to 9,706, down from 10,045 in December. However, this remains 11.6% higher than January 2024’s figure of 8,698 and 12.5% higher than January 2023’s 8,630.

Rising costs drive business closures

Bethan Evans, Wales Chair of R3, the UK’s insolvency and restructuring trade body, said the rise in corporate insolvencies is largely due to an increase in Creditors’ Voluntary Liquidations and Administrations.

She said: “This suggests that many directors are opting to close their businesses after years of tough trading conditions, particularly ahead of the upcoming rise in the National Minimum Wage and Employers’ National Insurance Contributions in April. As a result, corporate insolvencies have hit their highest January level in over five years.

“There is some positive news in the form of increased Administration numbers, which suggests that more companies may be rescued through sales out of Administration.”

Evans added that creditor pressures and ongoing costs remain key factors driving insolvencies, as rising expenses and reduced consumer spending continue to take a toll.

“Creditors have largely abandoned the more lenient approach they took post-pandemic, with HMRC now returning to pre-COVID levels of debt collection,” she said.

Sectors including retail, construction, and hospitality have struggled. While retailers saw an increase in sales during the festive season, Evans noted that much of this was driven by discounts rather than sustained consumer demand. The construction sector has been hit by rising costs and client caution, while hospitality businesses failed to see the Christmas revenue boost they had hoped for.

Looking ahead, she said: “The projected cut in economic growth has affected business confidence, with many firms hesitant to invest in expansion or hiring ahead of April’s wage and tax changes. However, the Bank of England’s decision to cut the base interest rate could help improve access to rescue finance.”

Household debt remains a concern

On personal insolvencies, Evans pointed to a rise in Debt Relief Orders (DROs), attributing this to changes in debt thresholds and the removal of administration fees last year.

“Breathing Space numbers are at their highest in a year, reinforcing the fact that household debt remains a serious issue in England and Wales,” she said.

“With winter costs for heating and food still high, financial worries are mounting. Many people are keeping a close watch on their outgoings and remain uncertain about their financial future.”

She urged those struggling with debt to seek help early.

“Discussing financial problems—whether personal or business-related—can be difficult, but seeking advice early often provides more options. Most R3 members in Wales offer free initial consultations to help people understand their financial situation and explore potential solutions.”

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Business

Special meeting to decide new £2.3m holiday development at deer park

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PLANS for £2.3m disability-friendly holiday lodges at a Pembrokeshire deer park attraction have been backed for a second time, but a final decision will have to be made by full council.

In an application recommended for refusal at the February 18 meeting of Pembrokeshire County council’s planning committee, Mr and Mrs Evans are seeking permission for 15 lodges at Great Wedlock, Gumfreston, near Tenby, the site of a 176-acre deer farm attraction, which includes animals from the late Queen’s estate, and a more recently-granted market traders’ barn.

The application had previously been recommended for refusal at the January meeting, but members went against officer recommendations with a ‘minded to’ approval, meaning the scheme returned to the February meeting after a ‘cooling off period’.

Reasons for refusal given to members included it was outside of an identified settlement boundary in a countryside location, and was considered to have an adverse impact on visual amenity.

The applicants have previously said build costs to complete the development would be circa £2.3m.

St Florence Community Council did not support a previous application, but has supported the latest amended scheme.

At the February meeting, officers repeated their concerns, also raising a recent court judgement against the council for a previously-granted holiday park scheme in Stepaside, which had been backed despite repeated calls by officers for its refusal, saying there was a possibility of a similar situation arising.

Applicant Andrew Evans thanked members for their previous support for the scheme, saying it would be “completely unique to Pembrokeshire,” providing a facility “for those less fortunate than ourselves,” adding: “Persons with disabilities can come and stay and be one of the majority, and not the minority.”

He said issues on visual intrusion had been addressed by screening which had already cost some £2,000, saying: “The only way you’d see this development is from a helicopter.”

Mr Evans told members some £2.3m was being sunk into the scheme, estimating an annual £1.5m spend in the county when wages, visitor expenditure and other factors were taken into account.

He said, if full approval was given, the first builds could be up-and-running this year, with all finished by February 2026.

Tenby-born Mr Evans quoted a recently-submitted Network Rail scheme to the national park to improve disability access at the town’s railway station, adding: “We’re going for something that no-one else caters for; 24 per cent of people suffer a disability.”

Local member, Cllr Rhys Jordan called once again for the scheme to be supported, saying the recent judgement of the Heritage Park scheme was “a different set of circumstances,” with the likelihood of a judicial review on an application that had “not received one objection” and was supported by the local community council “slim to none”.

Councillor Alan Dennison, who moved approval, seconded by Cllr Jordan, said: “With respect to the recent court case, everyone supports this.”

Concerns were raised by councillors Brian Hall and Alistair Cameron, the former warning it could “open the door” for applications previously refused.

Members voted nine in favour to five against supporting the scheme.

This second approval against officer recommendations based on policy means the final decision on the scheme will have to be made by full council, the matter expected to be heard at the March meeting.

The applicants’ previous scheme for a trading barn took an identical route, being decided by full council after repeatedly being recommended for refusal.

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