While renationalisation of British steel is outlawed by the EU,the government urgently needs to take measures to rescue this strategically essential industryThe announcement by the Tata Group that it intends to sell off its remaining UK steel operation is a body blow to the industry. The hope was that, with the promise of firm government commitment to the site, or Tata would keep open the Port Talbot plant that employs 4000 people,and supports 10000 more jobs. The worst-case scenario of instant closure has not been realised, and the focus now is on persuading Tata to supply the time needed for a buyer to be found. Related: Now is the perfect time for Cameron and Osborne to show their steel | Anne Perkins Continue reading...
Source: theguardian.com