The Telegraph Business reveals that not only is the EU not helping the British steel industry, it is Britain who is blocking help from within the EU. An article today says that Britain is sacrificing the steel industry to curry favour with China.Telegraph Business reports: “Britain’s special relationship with China is becoming more expensive by the day. It now threatens to destroy the British steel industry, a foundation pillar of our manufacturing economy.
What we know is that the British government has for the last three years been blocking efforts by the EU to equip itself with the sort of anti-dumping weaponry used by Washington to confront China. The EU trade directorate has been rendered toothless by a British veto. ”
The PM claims “we are doing all we can” to save 40,000 jobs, while immediately ruling out nationalisation. In his defence though, many respected financial experts, including Allister Heath, agree. However, the PM could not resist a cheap pop at Brexit, in spite of the facts. I believe it would benefit the PM to level with the steel trade as to what his real motives are.
There was a glimmer of hope this morning as metals group Liberty House said it was interested in buying some of Tata Steel’s business, but not the crucial blast furnaces that many steel jobs rely on.
The Prime Minister, who himself jetted back from his Lanzarote holiday last night, told ministers the Government’s priority is to find a buyer of Tata Steel’s British business.