Tata’s UK steel plants could be nationalised as government explores ‘all options’ to save 15,000 jobs
Indian firm Tata Steel is planning to sell its entire UK steel operation
Up to 15,000 workers could be out of jobs if steel giant sells off UK works
Huge plant in Port Talbot, Wales, is among those which could be sold off
But EU rules prevent British government blocking cheap Chinese imports
Business Secretary Sajid Javid remains in Australia after refusing to cut short his trade trip
By MATT DATHAN, POLITICAL CORRESPONDENT FOR MAILONLINE
30 March 2016
Thousands of jobs at Tata steel plants across the UK could be saved by the Government after ministers said temporary nationalisation of the industry was a possibility.
The Indian-based firm announced last night that it was planning to sell it’s loss-making UK business, putting 15,000 jobs at risk.
Business minister Anna Soubry said the Government is exploring ‘all options’ but admitted they could be restricted in their actions due to harsh EU rules.
Brussels restrictions on state aid could prevent the UK Government from intervening in the industry while EU rules were also blamed for failing to protect the steel industry from cheap Chinese imports.
The EU imposes a tariff of just 24 per cent on Chinese steel imports, compared to the 266 per cent levied in the US.
And while thousands of steel workers face the prospect of unemployment, Business Secretary Sajid Javid remains 6,000 miles away after refusing to cut short his trade trip to Australia.
Read more: http://www.dailymail.co.uk/news/article-3514583/Thousands-British-jobs-risk-Indian-owned-Tata-Steel-prepares-sell-s-entire-UK-business.html#ixzz44NlyyBvU