British Steel on verge of administration ... why?

[ellal]

Watching with interest to see someone attempt to disprove these simple facts.

Suffice to say that the order book has virtually dried up...

And that they want the UK taxpayer to pay its EU carbon emissions bill, having been barred from securing CO2 allowances under the EU-wide emissions trading system (ETS) due to Brexit uncertainty.

So whilst worldwide trading conditions have an effect, many of the problems are UK inflicted...

Mind you, Brexit may solve the trade issue problems that the UK is ruminating over...

Because it may well be the case that in the future we won't have much to trade with!

 

[Notch7]

Watching with interest to see someone attempt to disprove these simple facts.

The pound was due to drop to that level anyway. Ref or no ref

 

[Mfatic]

The pound was due to drop to that level anyway. Ref or no ref

Not according to the IMF. Do you think they do not have a scooby?

"In the IMF’s view, the value of the pound might need to be even lower now that the UK has voted to leave."​

 

[Notch7]

One assumes that the reason for you referring to that article was that you were implying that the referendum result did not affect the value of the pound, otherwise, why post it

Oh dear, another example of Mfatic changing what I said to suit his argument.

I said the pound was overvalued before the referendum.

The article I linked said this:
This is correct. Before the EU referendum, the IMF said that the pound was overvalued in 2015

You disagree, so clearly you think the IMF must be wrong.

 

[SirGalahad]

No deal Brexit wont cost the UK economy as much as a Corbyn government.

Interesting statement you have anything to back that up?

 

[Bodd]

Probably more to do with cheap Chinese steel.

There are some bugs eating my dahlia shoots -it never happened before Brexit

Have you tried lemon juice

 

[ellal]

The pound was due to drop to that level anyway. Ref or no ref

But you keep saying that the EU/Euro is tanking...

By that measure, if you're right the UK is really in the brown stuff!

 

[Notch7]

The UK government have already forked out £100m rpto British steel.

Its because the EU froze UK companies out of its carbon credits scheme.

 

[ellal]

Its because the EU froze UK companies out of its carbon credits scheme.

Actually we were supposed to have left the EU by now, so why should they have not done so?

 

[motorbiking]

Interesting statement you have anything to back that up?

Quite a few articles state the cost of the renationalisation and public spending plans are set to cost each household about £6,500 over the term. No Deal Brexit is estimated at about £1K per year, in terms of economic pain and lost growth.. Different articles claim varying costs, but you get the picture.

https://www.cps.org.uk/research/the-cost-of-nationalisation

That is just one of new-old-labours policies.

An alternative option (I just made up) you could remain in the EU as a protest member and pay all the fines for not following the rules and still have change after 10 years including the net contribution.

 

[durhamplumber]

My back was hurting yesterday...Never happened before brexit!!!!

 

[JohnD]

Quite a few articles

Have you got any that come from respectable economic organisations? Rather from right-wing propagandists?

 

[Notch7]

Have you got any that come from respectable economic organisations? Rather from right-wing propagandists?

Are there any left wing leanibg organisations that have calulated the cost of renationalisation-or are too frightened to publish the results

 

[JohnD]

I'm not aware that the renationalisation of British Steel is part of any party's policy.

Where did you and biking get the idea?

 

[The Baker]

This was discussed in BBC Radio 4 between 7 & 8 this morning.

The bit's I picked up on were;

Bought Company for £1.

Extracted money from the company and stashed it off shore.

Organised loan/loans for the company with the interst on these loans going off shore.

I was watching a hip excerise on YouTube with sound off at the time.

Never the less the words "getting out of Pensions Liability" and,

Just let it go bust and then support our own steel industry came to mind.

I accept that I will need to down load the radio I player app to my phone to hear it again.

Tim