National News British steel

[Sarge]

Government claims its illegal (due to green emmisions laws) to bale out british steel (£30m required) ....so wont rescue manual workers jobs in industry. Calls to nationalise british steel unlikely to bear fruit..... shame that british steel arent bankers, this goverment would bale them out with tax payers money (again)

 

[Sarge]

BBC overview ....
https://www.bbc.co.uk/news/business-48365241

 

[Glover]

That’s my nickname

 

[Glover]

I thought all of Corporate Clive's alter egos had been banished to the naughty step?

??? stop bullying me

 

[Marked Ox]

That’s my nickname

What is? Is it contained within Scunthorpe?

 

[warksox]

..... shame that british steel arent bankers, this goverment would bale them out with tax payers money (again)

Not this government, was it not Gordon Browns' Labour government that bailed out the banks?

 

[warksox]

Lot of exposure in this news area due to the Scunthorpe plant, which employs 4,000 directly and many more indirectly.

A lot of reasons for potential closure, despite some sectors (like rail) being profitable, but one of those reasons is a lack of guaranteed orders from foreign customers due to uncertainty over Brexit, Australia and Saudi Arabia being two examples. This is a fact, not scaremongering or guesswork.

Who to blame? The 17.4 million who voted for it, or the government for failing to implement it?

I don't think 17.4m people voted for 'uncertainty over Brexit', the blame for that lies with the 650 MP's in Westminster.
But that's only one factor. A report on Sky News seemed to be blaming China - apparently China has produced more steel in the last 2 years alone than the UK has produced in total in the 160 years since the start of the industrial revolution. With the downturn in their own economy, they are now dumping steel in Europe on a huge scale.

 

[Peterdev]

I’d have liked to see British Steel jobs saved and reports suggest Brexit uncertainty to blame.
However, other reports suggest the government is duty bound by EU law not to subsidise its existence.
A great shame as Scunthorpe and its surrounding industry will suffer as a result

 

[Essexyellows]

Ermmmm....... the EU wanted to apply tariffs to Chinese steel, the UK Government voted against that.
The next failure is the British Steel/EU carbon trading "bill"............... because we are all sure China is also worried about the environment (righty ho......).
The government say they can`t bail out British Steel ....... yet if they were a bank............

Its a clusterfu** that just shows what a mess we are all in.

 

[Cass63]

And now £1bn worth of steel will have to be imported to supply hs2. Where’s the logic in that?

 

[Marked Ox]

Ermmmm....... the EU wanted to apply tariffs to Chinese steel, the UK Government voted against that.
The next failure is the British Steel/EU carbon trading "bill"............... because we are all sure China is also worried about the environment (righty ho......).
The government say they can`t bail out British Steel ....... yet if they were a bank............

Its a clusterfu** that just shows what a mess we are all in.

Yep, our genius Govt strikes again.

 

[Sarge]

 

[warksox]

Ermmmm....... the EU wanted to apply tariffs to Chinese steel, the UK Government voted against that.
The next failure is the British Steel/EU carbon trading "bill"............... because we are all sure China is also worried about the environment (righty ho......).
The government say they can`t bail out British Steel ....... yet if they were a bank............

Its a clusterfu** that just shows what a mess we are all in.

You are making the assumption that protectionism through applying tariffs actually works. History suggests otherwise.
The Bush administration implemented tariffs on Chinese steel in 2002 but then found they'd had a negative impact on both employment and the U.S. economy.

 

[Oufcrealist]

Lot of exposure in this news area due to the Scunthorpe plant, which employs 4,000 directly and many more indirectly.

A lot of reasons for potential closure, despite some sectors (like rail) being profitable, but one of those reasons is a lack of guaranteed orders from foreign customers due to uncertainty over Brexit, Australia and Saudi Arabia being two examples. This is a fact, not scaremongering or guesswork.

Who to blame? The 17.4 million who voted for it, or the government for failing to implement it?

Yes Pete, good points. Also, I'll bet there were a fair number of those steel workers and connected workers who voted for Brexit.

 

[Sarge]

I’d have liked to see British Steel jobs saved and reports suggest Brexit uncertainty to blame.
However, other reports suggest the government is duty bound by EU law not to subsidise its existence.
A great shame as Scunthorpe and its surrounding industry will suffer as a result

apparently,Uk government can help out under EU rules, regs n the like... according to the Guardian stade aid for industry could be triple what it currently is, even if applying EU laws ....

Britain ‘could triple state aid for industry under EU rules’

IPPR thinktank rebuts claims that a leftwing Labour government’s hands would be tied by Brussels

www.theguardian.com