British steel facing administration

[rudds1 102]

Been reported that British steel is facing going in to administration unless the government bails them out. .whats to say if they do get bailed out they will recover and be able to carry on for the foreseeable future ?

[Janus 28]

Is it  due to the large amounts of  money they have got to pay to the EU for carbon credits?

Edited May 21, 2019 by Janus

[stillf 11]

It isn't the carbon credit as they have already circa £120 million for this in the form of a loan from the government. They need another 30 million (down from circa 70 million) to keep going. 

[spilldig 186]

I know one thing if you beg for money and someone gives you money you will ask for more and keep asking for more because that's the nature of a beggar.

[geared 302]

18 minutes ago, stillf said:

 They need another 30 million (down from circa 70 million) to keep going. 

Haven't the government offered them 30 million and they need another 30 odd million on top of that to keep going??

[bassett one 449]

the tory goverment will only be happy once they are all closed and finish what maggie thatcher started

[ez8004 10]

37 minutes ago, bassett one said:

the tory goverment will only be happy once they are all closed and finish what maggie thatcher started

Failing businesses should not be propped up by taxpayers money. 

[melthebell 862]

1 minute ago, ez8004 said:

Failing businesses should not be propped up by taxpayers money. 

how much taxpayers money will go to however many years unemployment / training for these 5000 or so staff?

 

and any contractors / suppliers that will also fail after the fact?

Edited May 21, 2019 by melthebell

[Yeah but 0]

17 minutes ago, ez8004 said:

Failing businesses should not be propped up by taxpayers money. 

They should if what they produce is vital for the national interest; British infrastructure, tanks and warships etc should be built from British steel. I know we're moving away from steel to other more modern materials nowadays but my point stands.

Edited May 21, 2019 by Yeah but

[ANGELFIRE1 10]

2 hours ago, Janus said:

Is it  due to the large amounts of  money they have got to pay to the EU for carbon credits?

In a word yes. While we pander to the EU and the environmentalists and have to pay a ransom to make our steel, the Chinese have no regard for this tax we pay at all. Their steel is made using coal as the primary power supply as well I believe. They are flooding the market with "cheap" made steel and we cannot compete.

 

As the Government paid lord knows how many billions to keep the banks alive, surely they can pay a hundred million or so to keep our steel making alive.

 

Close ALL our steelmakers down, and in the event of another war ever happening, where will our steel come from, - a steel tree.

 

Angel1.

[Ontarian1981 10]

10 minutes ago, ANGELFIRE1 said:

In a word yes. While we pander to the EU and the environmentalists and have to pay a ransom to make our steel, the Chinese have no regard for this tax we pay at all. Their steel is made using coal as the primary power supply as well I believe. They are flooding the market with "cheap" made steel and we cannot compete.

 

As the Government paid lord knows how many billions to keep the banks alive, surely they can pay a hundred million or so to keep our steel making alive.

 

Close ALL our steelmakers down, and in the event of another war ever happening, where will our steel come from, - a steel tree.

 

Angel1.

 You could do what our forefathers did prior to Operation Overlord, put inflatable tanks and aeroplanes etc. in fields all over Southern England, that'll deter anyone who wants to invade .  lol. 

 Seriously though, I didn't realise Thatcher had left any Nationalised industries still standing, in fact, it was one of the reasons that I sought work abroad in 1980/1, I had an inkling as to what was coming.

Edited May 21, 2019 by Ontarian1981

[Baron99 778]

It's alright asking for a government bail out / loan but as we're part of the EU it will go against their regulations.