Tata Steel accused of ‘industrial vandalism’ over plan to cut up to 2,800 UK jobs – as it happened

Tata Steel confirmed plans to close two Welsh blast furnaces and cut up to 2,800 jobs

• Port Talbot steelworks: blast furnaces to close, costing up to 2,800 jobs

The issue of how to decarbonise economies has been a theme at Davos this week.

Chrystia Freeland, Canada's finance minister, told delegates she discussed this issue with a very significant international business leader who's also a big investor in Canada:

And he said to me, all the countries in the world need to be very careful that decarbonisation does not mean deindustrialization.

I thought that was an extremely smart comment.

Steel production is an energy-intensive and environmentally impactful process. The cut in energy supplies to Europe from Russia has led to the deindustrialisation of Europe in general.

The Russian energy supplies were redirected to India.