Bet they would be pi$$ed in Redcar if that happened!

Can't see how they'll be able to sell on for a profit though like they did with the banks unless somehow our steel becomes competitive again in the future.

I think its possible, short term, as a means of phasing out the work whilst trying to attract new sources of employment into the area. Especially if they tie it into the production of steel for Trident etc.

It hard to see any tory government going down the route of subsidising failing British industry through the treasury.

Long term, in a capitalist economy, its going to be questionable in terms of sustainability.

"One Nation Under God, has turned into One Nation Under the Influence of One Drug"
[Link]

On the contrary, could be some smart political manoeuvring if Dave is seen to be 'helping' these people it may sway them to vote 'stay' as regards brexit.

Edited by robforbe (30 Mar 2016 9.15am)

Already seeing north-eastern lefties going mental on FB

The best thing to do right now is NOTHING.

Tata have put the Port Talbot works up for sale.

It is losing £1M a day FFS.

Watch and wait to see what happens - If it was a going concern Tata would be holding onto it as an asset, but obviously it's a liability which they want to shed as soon as possible to cut their losses.

By all accounts, only the rolling mills have any future according to a spokesman on R4 Today this morning.

The only hope is for a buyer to come in and produce high quality steel.... the Chinese have flooded the market with low grade steel and it is impossible for Port Talbot to produce the same below the price it is selling for right now. Excess stocks around the world means low grade steel prices will not recover for years. High quality steel is used in car manufacture and there is still a great demand, hence better prices.

Firstly, Cameron should be saying to the Welsh Assembly "you sort it out and come and see us if you can't" - they wanted devolution and with that comes responsibilities like sorting out crises as and when they occur. The SNP had to do the same for their Oil industry when prices started falling.

Personally I don't thing the steelworks should be nationalised. Let Tata sell it to a new owner or scrap the uneconomic parts and continue with the profitable parts. Paying benefits to a few thousand ex workers will not amount to £1M a day.

It won't be long before Aston Martin and TVR set up in Wales - so that should sort out a few jobs... retraining and creating other enterprise zones should help out the rest.

What we don't need is a knee jerk reaction and take on the plant as a "national asset" that is costing £1M a day to run.

If Cameron/Osborne are stupid enough to even considerate it they will deserve to get a backlash.