Indian owner puts entire British Steel industry and 15,000 jobs in danger
A decision by Indian owner Tata Steel means the entire UK steel industry, which employs 15,000 people faces being wiped out.
Many are questioning why the Business Secretary chose to go on a trip to Australia, that he has now had to cut short, rather that exert pressure on Tata executives in Mumbai. The Prime Minister has spent the last six days on holiday in Lanzarote and is understood to be furious with the shock decision by the Indian owners.
“UK politicians are lining up to state the British steel industry is absolutely vital. The question we want answering is why then did the UK Government allow the future of an essential industry that is fundamental to ensure our national security to be in the hands of a foreign power.”
“Ministers now only have weeks to find a solution, but must also explain the rationale for rolling out the red carpet to Chinese and Indian leaders late last year. China has continued to dump cheap steel on Britain and the Indian owner has now pulled the plug on the British steel industry and threatened to sell off the assets saying the business is worthless, although they bought it in 2007 for more than £6bn.”
Bhai Amrik Singh, Chair of the Sikh Federation (UK)