Author Topic: Double standards  (Read 1334 times)

Offline Ellipses

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Double standards
« on: April 01, 2016, 04:32:19 AM »
The trials and tribulations of the UK steel industry meander on.

Whether or not the government should step in and bail out our South Wales steelworks depends, they say, very much on whether we think the industry as a whole has a future in Britain. The case for government management is understandable but risks making things worse for all involved.

The best case for the government stepping in, they say, is that it would only be temporary – a few months at the most – and would give the plant's managers and unions time to create a restructuring plan and find a new buyer. If that prospect is seriously on the cards it shouldn't be dismissed out of hand.

However, the closure of Port Talbot has been expected for some time now, and our Government think it's hard to see why we should expect a buyer to come forward in the next six months if one has not done so already. The danger here is that what begins as a short-term bridge by the government turns into a long-term nationalisation: no buyer is found, and the prospect of the government itself shutting down the steelworks is so politically poisonous that it ends up lurching on indefinitely on government life support.

The Department of Trade & Industry contend that, keeping an unviable plant on life support only exacerbates problems and crowds out potential new sources of employment.

One queries why similar conclusions were not drawn about the damned banks?