BusinessPostCorner.com
No Result
View All Result
Saturday, July 18, 2026
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Tata Steel: UK government confirms £500m subsidy

September 11, 2024
in Business
Reading Time: 2 mins read
A A
0
Tata Steel: UK government confirms £500m subsidy
ShareShareShareShareShare

In a joint statement, Community general secretary Roy Rickhuss and Gary Smith, general secretary of the GMB, said: “Regretfully we couldn’t secure the support of all stakeholders for our credible alternative decarbonisation strategy, and ultimately the company rejected the basis of our proposals, representing a tragic missed opportunity.

“Under the circumstances representatives of all the steel unions resolved to negotiate the best possible deal, and then put it to a ballot of the membership. This is what we have done, and voting is underway.”

The Conservatives accused Labour of raising false hope that a better deal was on offer, and said the government had finally realised the Tories had done their best to save steelmaking.

Tory Senedd economy and energy spokesman Samuel Kurtz said ministers had been “disingenuous with their promises to the people of Wales and fallen short with their new offer, putting steelworker jobs at risk”.

“Unfortunately, there is no new money yet allocated by the Labour government that promised much more during the election campaign,” he said.

Plaid Cymru business and trade spokesperson at Westminster Llinos Medi said losing capacity to make virgin steel was a “serious economic blunder” that will “devastate the communities of Port Talbot”.

“Unions have previously called for additional investment of £683m in Port Talbot to save jobs,” she said. “Meanwhile Germany has invested 1.3 billion euros in decarbonising steel in one region alone this year.

“Can the secretary of state [Reynolds] explain why he won’t match the ambition of workers here and governments of other countries to save Welsh steel?”

Recently retired steelworker Huw Samuel said the upcoming closure of the second blast furnace will signal the end of an era.

“We did foresee the decarbonisation of the industry. However, I don’t think any of us would have predicted how quickly Tata would have made a decision and decided to shut down the coke ovens,” he said.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Ozempic maker sees promising results in trial of weight loss pill

Next Post

Sustainability investments increased this year

Next Post
Sustainability investments increased this year

Sustainability investments increased this year

The AI boom is built on debt, but investor demand plunges just as hyperscalers ramp up bond blitz

The AI boom is built on debt, but investor demand plunges just as hyperscalers ramp up bond blitz

July 17, 2026
U.S. and Iran both say they control the Strait of Hormuz amid attacks threatening all-out war

U.S. and Iran both say they control the Strait of Hormuz amid attacks threatening all-out war

July 13, 2026
These are the wildest claims in Apple’s lawsuit against OpenAI

These are the wildest claims in Apple’s lawsuit against OpenAI

July 13, 2026
Neuroscientist warns Gen Z first generation less cognitively capable than their parents

Neuroscientist warns Gen Z first generation less cognitively capable than their parents

July 12, 2026
CHRO compensation: What do the numbers say?

CHRO compensation: What do the numbers say?

July 15, 2026
Behind the multiple in accounting firms

Behind the multiple in accounting firms

July 14, 2026
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

My journey down the rabbit hole at the Conspiracy World Cup

My journey down the rabbit hole at the Conspiracy World Cup

July 18, 2026
After Supreme Court loss, Trump tests a new tariff strategy on Brazil and other countries may follow

After Supreme Court loss, Trump tests a new tariff strategy on Brazil and other countries may follow

July 17, 2026

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!