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11-11-2019, 12:01 PM
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British Steel

Absolutely disgraceful.....
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.
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11-11-2019, 12:28 PM
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Re: British Steel

Originally Posted by OldGreyFox ->
Absolutely disgraceful.....
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.....
Why? do you think the Chinese are going to rip it out of the ground and take it back to China?

How do you ever suppose British steel could be competitive on a world market? Iron Ore? Coking Coal? where does that come from?

You should be praising the Chinese investors for having faith in British heavy industry by investing in it because it seems no one else wants to.

BTW you are not the only country that imposes carbon tax on industry
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11-11-2019, 01:34 PM
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Re: British Steel

Originally Posted by Bruce ->
Why? do you think the Chinese are going to rip it out of the ground and take it back to China?

How do you ever suppose British steel could be competitive on a world market? Iron Ore? Coking Coal? where does that come from?

You should be praising the Chinese investors for having faith in British heavy industry by investing in it because it seems no one else wants to.

BTW you are not the only country that imposes carbon tax on industry
Yes Brucy , l do think they can move the whole plant to china?
It has become common practice to do this in the last 50yrs as
shareholders search for maximum returns on their money!
It is one of the benefits of globalisation??

Regards Donkeyman!
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11-11-2019, 01:37 PM
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Re: British Steel

I think it used to be owned by India anyway didn't it ?
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11-11-2019, 01:41 PM
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Re: British Steel

Am I correct in thinking that the EU prevented the British government from bailing out British Steel? Unlike their steel industries of course which are subsidised and partly public owned.
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11-11-2019, 01:44 PM
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Re: British Steel

Originally Posted by Bread ->
I think it used to be owned by India anyway didn't it ?
I understand it is not the whole of BS in this deal just parts of it .

I think Tata still retain some.
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11-11-2019, 01:45 PM
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Re: British Steel

Originally Posted by Judd ->
Am I correct in thinking that the EU prevented the British government from bailing out British Steel? Unlike their steel industries of course which are subsidised and partly public owned.
... and Airbus.

I think your right, Judd under the EU state aid rules
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11-11-2019, 01:49 PM
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Re: British Steel

Originally Posted by Judd ->
Am I correct in thinking that the EU prevented the British government from bailing out British Steel? Unlike their steel industries of course which are subsidised and partly public owned.
I understand under EU rules state aid from member-state governments are only allowed with approval from the European Commission.
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11-11-2019, 01:54 PM
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Re: British Steel

Originally Posted by Meg ->
I understand under EU rules state aid from member-state governments are only allowed with approval from the European Commission.
That's the UK Donald Ducked then.
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11-11-2019, 02:20 PM
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Re: British Steel

Originally Posted by Judd ->
That's the UK Donald Ducked then.
My field is industrial power electronics and mostly for process industries like paper and steel. Over the 50 odd years I have seen many British plants close and/or being moved overseas. Sad for British industry but it gave me opportunities to travel.
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