Tata Steel to sell UK all assets

In April, before the referendum, Employment minister Priti Patel said Britain would be unable to protect its steel industry while it was a member of the EU

A blatant lie, the EU wanted to act on imported chinese steel, the UK veto'd it.

http://www.theguardian.com/politics/2016/apr/01/steel-crisis-uk-accused-blocking-eu-attempts-regulate-chinese-dumping

Now I have just heard on the BBC that Chancellor Philip Hammond is trying to negotiate a free trade deal with China, is that what "protect its steel industry" means?

Well, this is what all those workers at Tata voted for when they chose Brexit.

Well, this is what all those workers at Tata voted for when they chose Brexit.

looks like it worked then seeing as their jobs are now safe:hihi:

How much were they losing per day, it is all a con.

---------- Post added 09-02-2017 at 18:21 ----------

A blatant lie, the EU wanted to act on imported chinese steel, the UK veto'd it.

 

The EU seem to have tariffs on Chinese steel now.

http://www.telegraph.co.uk/business/2016/10/07/eu-slaps-steep-tariffs-on-cheap-chinese-steel/

How much were they losing per day, it is all a con.

 

---------- Post added 09-02-2017 at 18:21 ----------

 

 

The EU seem to have tariffs on Chinese steel now.

 

http://www.telegraph.co.uk/business/2016/10/07/eu-slaps-steep-tariffs-on-cheap-chinese-steel/

can you tell me what part is a con ? i hope the eu imposing tariffs on china backfires and the people buy british made steel

A lot of investment needs to happen before the steel industry becomes competitive in this country on the global stage.

can you tell me what part is a con ? i hope the eu imposing tariffs on china backfires and the people buy british made steel

"£1m-a-day losses" but I believe they are still trading?

A lot of investment needs to happen before the steel industry becomes competitive in this country on the global stage.

a good investment for the government to get involved in now we arnt hampered by the eu dont you think

Well...Being in the industry myself. Tata sold off Scunthorpe steel works, and already is in profit as British Steel. So it makes me wonder if Tata were deliberately running these places at a loss.

Can't imagine why though.

Well...Being in the industry myself. Tata sold off Scunthorpe steel works, and already is in profit as British Steel. So it makes me wonder if Tata were deliberately running these places at a loss.

 

Can't imagine why though.

I remember reading somewhere, that sometimes it is in the owners interests to run some things at a loss, as the rewards from other connected sectors are greater.

As an example, you run your car at a loss to enable you to get to work, from which earn you a greater amount of money.

That is why governments sometimes run industries at a loss, as the returns from tax and other sources more than makes up for it.

Keynesian it is called I think, from Maynard Keynes, a famous economist from the 1930's.