Govt loans British Steel £120m to stop them going under

[arista]

[Business secretary Greg Clark
has confirmed a £120m government
bridging loan to the UK's second-biggest
steel producer after it requested
emergency support to make a
repayment to an EU-run environment
scheme.
Mr Clark told MPs that the government
had stepped in to meet a financial
shortfall faced by British Steel ahead
of a deadline for the company
to pay its latest carbon emissions bill]

https://news.sky.com/story/government-agrees-120m-emergency-loan-to-bail-out-british-steel-11708628


This is a Brexit Delay Problem
so they must help British Steel
with a bridging loan.

[user104658]

That pesky EU, putting the environment ahead of British steel :fist:

[Withano]

If we voted remain we probs wouldnt have needed the loan to begin with

[Twosugars]

brexit britain :skull:

[Livia]

Isn't British Steel owned by Tata? An Indian company? And isn't India one of the world's highest polluting burgeoning economies? So the government is paying this money to save Tata paying it? Sounds odd to me....

[Saph]

lend me some

[arista]

Isn't British Steel owned by Tata? An Indian company? And isn't India one of the world's highest polluting burgeoning economies? So the government is paying this money to save Tata paying it? Sounds odd to me....


Yes it is a Tata company
but due to the Brexit Extension
the Government is at fault first.

Tata would walk away and leave it , otherwise

[arista]

lend me some


No its a
Loan that you could not pay back

[arista]

If we voted remain we probs wouldnt have needed the loan to begin with

We will never know that,
Its Complicated as years back, China off loaded
so much under priced steel.