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Steel union welcomes government intervention at British Steel

Community - 1st May 2019

“It’s encouraging the government has listened to concerns from industry and unions…”

The steelworkers’ trade union, Community, has welcomed the government’s intervention at British Steel. Business Secretary, Greg Clark MP, announced today that the government will lend the company money to purchase carbon credits. UK companies have not been awarded their carbon credit allocations as normal under the scheme due to Brexit.

Roy Rickhuss, General Secretary of Community, said:

“I was pleased to hear the good news from Greg Clark. It’s encouraging that the government has listened to concerns from industry and unions. It would not be right for UK companies to suffer due to delays in concluding Brexit. The government’s intervention means British Steel can focus on ensuring the company continues to perform rather than casting round for solutions to what could have been an extremely serious cashflow problem.

“This is absolutely the right approach from government and we hope this is a sign that there will be further interventions to ensure the UK steel industry can compete on a level playing field.”

When the news broke a few weeks ago about the situation faced by British Steel, Community called for the government to step-in.

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