The British steel industry is preparing for significant job losses, with reports indicating that around 2,500 positions may be cut at the Port Talbot steelworks. This comes as the government is set to announce a taxpayer-funded rescue plan for the Tata Steel-owned facility in South Wales. Business Secretary Jonathan Reynolds is expected to provide details on Wednesday regarding a deal that would involve the government investing £500 million to support the construction of a new electric furnace at the historic plant. However, this financial assistance is likely to come at a steep price, as it may lead to the closure of the last remaining blast furnace and result in substantial redundancies. The situation raises concerns about the future of thousands of additional jobs across the UK steel sector as the industry grapples with ongoing challenges.