Bail out Tata's UK Steel?
 

Should the taxpayers bail out Tata UK Steel or should they be allowed to fail?

The government needs to do something. Maybe they should insist that all future pitches for infrastructure projects must include the use of British steel

Bit ******g late for that !

To be fair, this has been a long time coming. We took equipment back from site 6 months ago as they couldn't pay for it any longer!

The British steel industry needs something a bit more immediate than that. Not sure if it's possible at since EU regulations limits state aid, but should it be re-nationalised, an industry that is making a £1m loss every day, a cost that the taxpayer will have to bear?

I should think we drop a mill a day on a lot more mundane ****e to be fair

if they go will it mean the other one that managed to survive recently will get more work?

Considering we pay the EU £55M a DAY as a membership fee I'm inclined to agree.

No state aid because of EU rules, high energy prices due to EU rules, no money (partly) because we pay the EU, hmmm what to do on June 23rd? LEAVE THE EU! :idea:

Agreed, but with government assurance about future procurement contracts, that will make finding a buyer easier.

Also, given the ciclical nature of the steel industry, a government buy out may not be a terrible idea.. What for the market to recover, then sell it?

If only we weren't in the EU, then China wouldn't be able to flood the market with cheap steel...

How does Germany get to keep their steelworks ??

Deja vu with the mining industry.

Maybe because electricity is a little cheaper...

https://pbs.twimg.com/media/CeytOOfW4AAqClK.jpg

...due to the eco-tards in the UK!


mb

Not sure where your chart comes from, but it didnt feel right to me so I looked into this in detail, and it turns out that German industry pays a lot more for energy than UK industry.

Now this could be because the numbers you posted are specific to the steel industry, if so fair enough.

It would seem though that the German 'eco-tards' are even more effective than their UK equivalents.

Stupid green policies have been destroying industry in the UK (and most of the western world), we pay huge subsidies on crazy green projects that are unreliable and cant stand on their own feet. Huge waste of taxes, and it has driven energy prices sky high. Makes me laugh when the idiots from the press say its not possible to subsidize the steel industry when hundreds of millions are squandered on green garbage. Hopefully a huge wake up call to ditch idiotic green policies.

there is state aid to every uk company, actually that employs people with children, its called CHILD TAX CREDIT and without it i for one wouldn't bother working, £7.49 per plus ctc is still probably less than the £12.50 per hour to sit on your sofa with 3 kids and a rented house

If we halved energy prices there would still be an even bigger over-supply of steel, and our steel industry still wouldn't be able to compete.

I just think if we import absolutely everything, from energy through to milk through to workers ,it leaves us vulnerable

Hi,
If Tata can't make money out of their UK steel plants - who would possibly want to buy them?
I understand the big problem is the low import tariff imposed by the EU on Chinese imported steel - that is being sold (dumped) at below cost.
US don't allow dumping in their market - they have a near 300% duty on Chinese steel (they did something similar on Chinese solar panels).
The EU need to grow some balls and increase the tariffs on Chinese steel - below cost dumping by China is effectively state sponsored economic terrorism - as it screws up local producers (once they go bust the Chinese can simply increase prices again).
Cheers
Steve

Ah , but then we wouldn't get our power station built. ( apparently )


But I agree. Same in Zim, where girlfriend comes from. Not that Mugabe gives a toss

Surprised alcazar hasn't piped up.
Has he fallen off his perch ?

It comes from those assorted nutters at the Global Policy Warming Federation - an organisation dedicated to peddling crap about climate change

Via a pseudoscience conspiracy site - "what's up with that" (WUWT) who peddle bat sh1t crazy ideas

WUWT often have articles denigrating "elitist" scientist - a recent example was by Melanie Phillips, she openly doubts vaccines and evolution - so dismissing AGW is pretty easy when you are a "crank magnet" and have your draft ideas repeated in theses ridiculous websites

This man speaks sense. :thumb:

***Ad Hom ALERT ***


(again)

to put it into perspective, the royal bank of scotland bail out cost 45bn. this would keep port talbot producing for 123 years! i know its not a viable business at the moment but worth considering.

Just typing this as I finish a 6-2 on the Scunthorpe plant. I dunno if it's going through but apparently Tata are underwriting loans for the possible takeover by Greybull.

My understanding was that the deadline was today but it was an unofficial one, so I should be coming to work tomorrow :lol1:

300 or so people are leaving today on VR/retirement, as its March 31st.

Well said :thumb:

Iv got a quid , will that be enough

Perspective is also required regarding your statement too. Steel industry has been in decline for over 25 years and currently only accounts 0.1% of UK's total economy. The loss of the steel industry will not result in the collapse of the UK economy.