The Government has unveiled a “new and improved” deal to help the transition to a greener way of producing steel at the country’s biggest steel plant. Ministers said workers at Tata Steel’s giant site in Port Talbot, south Wales, will get improved redundancy terms and the offer of a skills package. Around 2,800 jobs are still set to be lost as a result of the shutdown of blast furnaces and switch to using an electric arc system of production. The government confirmed it will contribute £500 million to the transition, but said investment can be clawed back if the company does not retain 5,000 jobs across its UK business after the change. Ministers said Wednesday’s “new and improved deal” goes much further than the previous government’s agreement, including a minimum voluntary redundancy payout of £15,000 for full-time employees plus a £5,000 ‘retention’ payment and offering paid-for training. Business and Trade Secretary Jonathan Reynolds said: “Port Talbot has always been and will always be a steelmaking town. This deal does what previous deals failed to do – give hope for the future of steelmaking in South Wales. “Steel is fundamental to the UK’s economy, sovereignty and communities, but previous government inaction has...