{"id":18046,"date":"2019-05-14T16:55:24","date_gmt":"2019-05-14T15:55:24","guid":{"rendered":"http:\/\/unitelive.org\/?p=18046"},"modified":"2020-11-12T12:56:29","modified_gmt":"2020-11-12T12:56:29","slug":"british-steel-seeks-new-loan","status":"publish","type":"post","link":"https:\/\/unitelive.test.igniteamt.com\/?p=18046","title":{"rendered":"British Steel seeks new loan"},"content":{"rendered":"
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Unite said it would be seeking urgent assurances from British Steel bosses on Tuesday (May 14) after reports suggested that the steelmaker was in talks with the government about a new loan.<\/p>\n

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It has been reported<\/a> that British Steel is seeking fresh funding from the government after it secured a \u00c2\u0141100m state loan to pay its EU carbon emissions bill two weeks ago.<\/p>\n

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British Steel, whose main plant is in Scunthorpe but also has sites in Teesside, Cumbria and North Yorkshire, confirmed in a statement that it is seeking more financial support to weather what it said were Brexit-related challenges.<\/p>\n

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The firm said that “uncertainties around Brexit are posing challenges for all businesses including British Steel”.<\/p>\n

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“We are holding constructive discussions with our stakeholders on how to navigate them,\u00e2\u20ac\u0165 the company noted.<\/p>\n

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“Discussions are continuing about a package of additional support to assist the company address broader Brexit-related issues, whilst continuing with [the company’s] investment plans.”<\/p>\n

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Unite has called for clarity from the firm and support from the government.<\/p>\n

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\u00e2\u20ac\u015bThe workforce of British Steel worked tirelessly to secure the steelmaker\u00e2\u20ac\u2122s future during the difficult times and given a fighting chance will do so again,\u00e2\u20ac\u0165 said Unite national officer Tony Brady.<\/p>\n

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\u00e2\u20ac\u015bUnite will be seeking urgent assurances about our members\u00e2\u20ac\u2122 futures at British Steel, a company which helps sustain thousands of job in the local economy and wider supply chain.\u00e2\u20ac\u0165<\/p>\n

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Brady said that Unite was firmly of the view that British Steel can and should have a bright future, especially having just secured a big order for rail.<\/p>\n

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\u00e2\u20ac\u015bTo do so though the government must, as reports suggest, help the steelmaker through the tough times, while urgently addressing the wider underlying problems facing the UK steel industry,\u00e2\u20ac\u0165 he noted.<\/p>\n

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Unite believes government must do much more to tackle the underlying issues \u00e2\u20ac\u201c otherwise loans risk being nothing more than \u00e2\u20ac\u0098sticking plaster\u00e2\u20ac\u2122, the union highlighted earlier this month<\/a>.<\/p>\n

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\u00e2\u20ac\u015bBrexit is hitting sales and creating uncertainty not just for British Steel, but for the wider industry,\u00e2\u20ac\u0165 Brady explained. \u00e2\u20ac\u015bAt the same time high energy costs are leaving steelmakers competing with their European competitors with one hand tied behind their backs.<\/p>\n

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\u00e2\u20ac\u015bMinisters need to support the wider steel industry with help on business rates and high energy costs, while securing a Brexit deal that secures a customs union and continued tariff free frictionless trade.<\/p>\n

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\u00e2\u20ac\u015bThe government must also put UK steel at the heart of major infrastructure and ensure projects like the Royal Navy\u00e2\u20ac\u2122s new Fleet Solid Ships are built in the UK using UK steel.\u00e2\u20ac\u0165<\/p>\n

 <\/p>\n

Earlier this year, a government report found that less than half of the steel the UK government bought<\/a> for projects in the last year was procured from the UK.<\/p>\n","protected":false},"excerpt":{"rendered":"

Unite said it would be seeking urgent assurances from British Steel bosses on Tuesday (May 14) after reports suggested that the steelmaker was in talks with the government about a new loan.   It has been reported that British Steel is seeking fresh funding from the government after it secured a \u00c2\u0141100m state loan to […]<\/p>\n","protected":false},"author":2,"featured_media":4271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[486,962,269],"wps_subtitle":"Unite calls for urgent assurances from British Steel bosses over workers' futures","_links":{"self":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/18046"}],"collection":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18046"}],"version-history":[{"count":2,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/18046\/revisions"}],"predecessor-version":[{"id":25286,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/18046\/revisions\/25286"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/media\/4271"}],"wp:attachment":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}