British Steel on verge of administration ... why?

[JohnD]

Some similarities with the Water Companies, then.

And BHS, perhaps.

 

[Nige F]

The UK's second-biggest steel maker had been trying to secure £75m in financial support to

They'll just have to say Tata for now and shut down. Then when HS2 is finished the workers can come down on t'train instead of getting on their bikes.

 

[motorbiking]

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

because we haven't and it would be unlawful?

 

[JohnD]

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

Please explain what you mean.

Surely you are not talking about the next phase (2021 to 2030).

Are you perhaps talking about a temporary suspension while the UK makes up its mind what on earth it is doing? Due to the inability of Brexers to agree anything this could sadly be a very long time.

https://ec.europa.eu/clima/news/com...elated-processes-union-registry-eu-ets-and_en

"One day after both the UK and the EU have deposited their instruments of ratification of the Withdrawal Agreement with the Secretary-General of the Council the suspension will automatically be lifted."

 

[JohnD]

British Steel collapses into insolvency​

"British Steel has started insolvency proceedings, putting thousands of jobs at risk after its pleas for an emergency government bailout were rejected.

The liquidation of the UK’s second-largest steelmaker came after the collapse of talks between the UK government and British Steel, its lenders and private equity owner Greybull, over an emergency state loan of around £30m. This was requested to help the business through a crisis it said was caused by a slump in orders following the uncertainty surrounding Brexit."

 

[Notch7]

British Steel collapses into insolvency​

"British Steel has started insolvency proceedings, putting thousands of jobs at risk after its pleas for an emergency government bailout were rejected.

The liquidation of the UK’s second-largest steelmaker came after the collapse of talks between the UK government and British Steel, its lenders and private equity owner Greybull, over an emergency state loan of around £30m. This was requested to help the business through a crisis it said was caused by a slump in orders following the uncertainty surrounding Brexit."

It seems odd the government cant find £30m to keep a key industry going, but they can find £15m to spend on a ferry company that has no ferries and wasnt needed anyway.

 

[JohnD]

"This was requested to help the business through a crisis it said was caused by a slump in orders following the uncertainty surrounding Brexit."

If they started helping everyone in trouble because of the Brexit Omnishambles, how could it ever end?

 

[JP_]

It seems odd the government cant find £30m to keep a key industry going, but they can find £15m to spend on a ferry company that has no ferries and wasnt needed anyway.

Not at all odd. The ferry scam made somebody a load of cash. British Steel will probably be resolved with some sort of buy out or public aid and some people will then grab some really cheap shares and hold onto them until it's doing well again. It's all about the money, it always is.

 

[ellal]

because we haven't and it would be unlawful?

Nope, not unlawful...
Allocation of credits to all UK companies were temporarily suspended in line with the rules regarding article 50.
Didn't quitters know that's what they were voting for?

 

[SirGalahad]

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.

That report is written by either a person who expects those reading the headlines will not delve further into the facts - the fact its framed as costing £6500 but forgets to mention these then become national assets on the Gov balance sheet. Just looking at the Privatised water companies Greenwich Uni looked at post tax profits of the water companies adding upto 18.8bn over the last decade.

Factoring in a 50yr UK gilt is paying 1.53% then on £176bn the interest would be £2.7bn. That would easily be covered by the profits from these industries per year.

I don't have any problems with people saying Corbyn Government will cost the UK economy x amounts but at least provide some better evidence and not from a think tank that is opaque with its funding. This is the same think tank that has links to the conservative party - it was founded by Thatcher.

Good policies can come from any party - tory or labour. Currently the tory are just running with the same old rubbish - they need new ideas and fast and not old ideas rehashed.

 

[durhamplumber]

Interesting statement you have anything to back that up?

No...".tis a fact" as the remainers constantly spout.

 

[SirGalahad]

So you have labour leave voters who rationalise that leaving the EU will allow the Government to protect inefficient but deemed important industries and you have leave Tory voters who rationalise that the Government can remove regulations, worker rights etc. How can you square that circle?

 

[JP_]

https://www.facebook.com/catherineb...468362758046/1325533947584814/?type=3&theater

See, the man that is pretending to be in Britain's best interests is actively screwing the little people for his own political and personal gain.

Update: "Nigel Farage has claimed if Britain had left the European Union within its two-year deadline then it would have been able to save the steel company and prevent thousands of job losses."
https://www.express.co.uk/news/uk/1...Brexit-Party-EU-Brexit-insolvency-liquidation

And some people want this guy to run our country? FFS

 

[JohnD]

Lol at this old tweet of Nige's

 

[ban-all-sheds]

Didn't quitters know that's what they were voting for?

They always say that they did.

Except in regards to every single real consequence of their vote which then arises.