The British steel industry has faced a significant setback with the announcement of 2,500 job cuts at the Port Talbot steelworks. This news comes despite a £500 million government investment aimed at developing a new, more environmentally friendly electric arc furnace at the facility. Business Secretary Jonathan Reynolds has confirmed that the government will contribute £500 million to the project, while Tata Steel, the plant's Indian owners, will invest an additional £750 million. The decision to cut jobs has raised concerns about the future of the industry, even as efforts are made to modernize and reduce the environmental impact of steel production in the UK.