by a private equity group, it collapsed into insolvency last week. Greybull Capital blamed Brexit, among other factors, for its order book drying up. If British Steel goes under, it would put at direct risk the jobs of 5,000 people – with many thousands more working in the supply chain.
Yay Globalization and Climate change ! Get industry to China!
I am a free market capitalist but It’s a real tragedy that governments stand idly by allowing major industries of national importance slide into oblivion. There needs to be a PPP plan to ensure certain key industries can compete globally.
You mean when it’s steel industry is destroyed by Globalist interests.
They blame it on the EU rather than the Murdoch run government?
They need jobs obviously.
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Brexit will not save troubled steel industry, says trade bodyUK Steel’s director general warns leaving EU will not give steel greater trading opportunities Brexit ain't saving nothing but the clowns who concocted the whole damnable thing. They'll get paid no matter what. Unless we can think up some metal infrastructure that will be vital for the future such as wave power, Hep, wind, solar, housing, railway expansion etc. Green energy to power the energy intensive steel making also would be necessary. Its too late. By the time we got a clean brexit British Steal will already have gone under. Wouldn't have happened if we could have left 3 years ago.
Source: The Guardian - 🏆 84. / 53 Read more »
Recycling steel could give lifeline to the industry, report saysVast quantities of carbon would be saved if the UK moved away from primary production Releasing carbon is fantastic. My greenhouse has CO2 pumped into it so my plants can grow better. Healthier plants=more vegetation=more food= quicker environmental recovery from deforestation We have always recycled steel, 20% of production is normally scrap. Another 'rag and bone' story Grauniad.
Source: The Guardian - 🏆 84. / 53 Read more »
This Nigel Farage tweet about the British steel industry has aged very badlyOn Wednesday, it was announced that British Steel had been put into compulsory liquidation, effectively putting 4,000 jobs at risk, as well as threatening 20,000 others in the company's supply chain. Quick question, has brexit happened yet ? What a stupid statement. Brexit hasn't even happened yet, because that joke of a parliament blocked all the deals that May negotiated with the EU. We have not left the EU. Also the EU is partly to blame for British Steels downfall.
Source: The Independent - 🏆 80. / 59 Read more »
British Steel COLLAPSES after failing to secure funding putting 25,000 jobs at riskMANUFACTURING giant British Steel today collapsed putting the jobs of 25,000 workers at risk. The company was forced to go into bankruptcy after a last-minute bid to secure an emergency loan from t…
Source: TheSun - 🏆 64. / 61 Read more »
British Steel collapses into insolvencyBritish Steel is to enter insolvency, putting more than 4,000 jobs directly at risk and threatening a further 20,000 in the company's supply chain. More follows… Terrible news. Being an ex-British Steel advertising photographer who worked for them for five years and ex-RAF photographer I said it would collapse when they put it back together again. Of course. No one listened to that. The accountants and lawyers always know better. 😞
Source: The Independent - 🏆 80. / 59 Read more »
Want to save the UK steel industry? Brexit isn’t the answer | Gareth StaceLeaving the EU could cause a great deal of damage to exports, says Gareth Stace, director general of UK Steel If we left on the 29th then this would not be happening. That is a simple fact. Steel prices at extraordinary highs. You can't make it work 🚮 🚮 Actually it literally is. The EU prevents us from bailing out British Steel. The collapse of which was caused by the EU allowing cheap Chinese steel to flood the market. Do keep up you partisan hacks
Source: The Guardian - 🏆 84. / 53 Read more »
Editorial: Renationalisation is the last thing that would have saved British SteelOnce the cradle of the industrial revolution, the UK is now a bit-part player in the global steel industry. There is no case that the trade is a natural monopoly or a public service China’s Steel companies are nationalised. That’s where we’ll be buying steel from now on. Re-nationalising British Steel would have given Greybull, the private equity firm that stripped assets from British Steel, an even bigger payday than they have already had...
Source: The Independent - 🏆 80. / 59 Read more »