What is this country coming too selling out our manufacturing to foreign powers when we are sending billions of pounds to the EU and they send some back so we can build a park or a monument. All the aid money sent to India and other countries around the world when we can't even keep 'British Steel' British....We are the only country who impose carbon taxes on our own industry making British Steel uncompetitive on the world market.....It's time we cleared out the tossers who are supposed to be running this country, and started making up some of our own rules....It just makes me so bloody angry.....
British Steel to be rescued by Chinese firm in £70m deal
1 hour ago
British Steel is set to announce a rescue deal with China's Jingye Group, which could safeguard up to 4,000 jobs in the UK.
Jingye Group has agreed in principle to buy British Steel for £70m.
It is understood that the government will help in the form of loan guarantees and other financial support.
British Steel has been kept running by the government via the Official Receiver since May, when the company went into liquidation.
As well as employing 4,000 people at its S****horpe and Teesside sites, British Steel supports an additional 20,000 jobs in the supply chain.
Another 1,000 jobs are based in France and the Netherlands - those are included in the deal too.
It is expected that an agreement will be signed, but that the company will continue to be run by the Official Receiver for at least a month before being transferred.