twoleftfeet 12:42 Wed May 22
British Steel.
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Has been declared insolvent so 25,000 jobs at risk.
One of the causes is cheap steel from China.
Why don’t we put tariffs on Chinese steel so that it loses its appeal?
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Replies - In Chronological Order ( Show Newest Messages First)
SurfaceAgentX2Zero
12:44 Wed May 22
Re: British Steel.
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Because the EU won't let us. Nor will they allow us to bail them out.
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Mike Oxsaw
12:46 Wed May 22
Re: British Steel.
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ALL EU steel must be manufactured along the Rhine Valley.
IT'S THE LAW!!!
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zebthecat
12:50 Wed May 22
Re: British Steel.
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Quite the opposite Surf.
The EU council proposed more punitive tariffs but the UK were one of countries that blocked this proposal.
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Block
12:51 Wed May 22
Re: British Steel.
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Watch the Pro EU suspects turn up and say it's down to us not exporting steel to the EU due to Brexit....
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zebthecat
12:53 Wed May 22
Re: British Steel.
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The owner, Greyball Capital, have form on asset stripping and mismanaging companies they take on (Comet being a classic example). I would not be surprised if they are the first creditor in line for any proceeds from the administration process.
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Gavros
1:08 Wed May 22
Re: British Steel.
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I wonder if young Nigel's job is at risk?
There was one time when he had a future there.
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New Jersey
1:11 Wed May 22
Re: British Steel.
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This is a strategic industry ffs(Unlike Jamie's Italian Restaurants) the government should have given the £30m loan, then sorted out the future of it.
They can let Grayling squander millions without so much of a peep, yet can't find the money for this. This government is so incompetent it beggars belief.
As far as the EU goes, the biggest problem has been the cost of heavy environmental standards the EU has imposed on British Steel to reduce their carbon footprint, something steel producers in India and China don't have to comply with. We need to look after the 25,000 people who will be adversely affected by this.
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lowermarshhammer
1:12 Wed May 22
Re: British Steel.
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Probably because we are China's bitch.
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riosleftsock
1:12 Wed May 22
Re: British Steel.
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It is actually possible to nationalise it, but it requires EU PERMISSION as it is of strategic national importance. The problem is when a country has allowed the same asset to be foreign owned previously.
Our steel is extremely high quality and more expensive. It requires coke to produce it, and coke burning is highly punitive within the EU due to the EU.
We did used to sell steel to the US, but struggle to now because of the tariffs imposed by the US in retaliation to perceived EU trade unfairness, so again because we are in the EU
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Gavros
1:13 Wed May 22
Re: British Steel.
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I saw an interesting stat yesterday.
China have produced more steel in the past 2 years than the UK has produced in history.
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Gavros
1:15 Wed May 22
Re: British Steel.
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So its the EU's fault that Trump decided to slap protectionist tariffs on steel imports?
Grow up.
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Block
1:31 Wed May 22
Re: British Steel.
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Actually, brexit uncertainty has caused issues with the EU importing steel, that's a fact.
Not leaving the EU, the fact we cannot make our fucking minds up in what fashion we leave.
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Frankie van der Elst
1:33 Wed May 22
Re: British Steel.
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Sadly, as with Sunderland and Nissan, the turkeys voted for Christmas!
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Gavros
1:34 Wed May 22
Re: British Steel.
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To be frank I think this is more about a vulture fund sucking a failing business dry and getting the government to spend taxpayers money to line their own pockets.
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Kaiser Zoso
1:38 Wed May 22
Re: British Steel.
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I thought it was generally known that British Steel have to pay a £75m to pay an EU carbon bill?
Apparently, there’s a few divs on here who don’t?
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BRANDED
1:39 Wed May 22
Re: British Steel.
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Its just steel. Let the northern monkies retrain as Amazon warehouse staff.
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New Jersey
1:45 Wed May 22
Re: British Steel.
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Corbyn should get himself up there, fantastic photo opportunity for him, while May just looks senile!
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lufbra iron
1:47 Wed May 22
Re: British Steel.
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its the BS Pension which is the main rope around its neck.
Still a hangover from nationalisation.
Final salary pension
People allowed to retire early on full pension
Ageing population
Strong unions have managed to maintain the benefits, which was obviously to their detriment now.
It means that there are approximately only 20,000 contributing to the pension, and around 100k drawing on it.
Not sustainable
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BRANDED
1:48 Wed May 22
Re: British Steel.
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Old people can be really uncaring
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Gavros
1:57 Wed May 22
Re: British Steel.
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Again blaming the EU for carbon trading is fuckibg rediculous. Its always been a market based system for reducing CO2 rhat the UK has championed.
Furthermore BS like all steel companies are allocated carbon permits. The mistake they made was to sell them when the price was low and now they have to buy back when the price is high.
Thats called bad management.
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