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The UK government has already separated nearly $ 100 million to pay for British steel baleout just weeks after controlling two explosion reactors from Chinese owner Jing.
Business Secretary Jonathan Renolds told the House of Commons on Thursday that the factory was spent on the fact that the factory was spent on the fact that the factory was passed in early April. Take control of British steel controlThe
The last garment to make a steel from scratch in the UK is the company with the UK with about 3,500 people with scantorp 2,700.
He told MPS, “The effective capital paid for the date for British steel is £ 94 million, which we certainly have given a lot of money to zing, or if we have to deal with the entire British steel site and business,” he told parliament.
Renolds said that the money spent so far was much lower if ministers were allowed British steel “total fall”Which he said would have spent £ 1 billion. He said that while switched to the green color forms of steel making in the zing, he requested financial support to continue his losses, less than £ 1.2BN, he said.
Shadow Business Secretary Andrew Griffith warned that this rescue could spend billions of taxpayers in long -term taxpayers.
“The truth is soon or later, it has to come from the budget of its department for the cost of financial assistance for the automotive sector, exporters, or for hard working trade negotiators?” The conservative MP asked the Commons on Thursday.
Ministers have repeatedly said that they have a “war book” to spend on green steel, $ 2.5 billion, which can come from the state -owned National Resources Fund.
Griffith questioned the idea that cash could come from the National Resources Fund, which is effectively independent despite being state -owned.
The labor government hopes that the government will be able to find a new buyer for British steel from the private sector, although analysts are suspicious about the loss of $ 700,000 a day in the owner of the owner.
Last month, the ministers took steps to take control of the tree control after the scantorp explosion announced a plan to shut down the furnace and ax.
The closter would have left the United Kingdom as the only G7 race without the ability to make steel from raw material, though the scantorp plant depends on the import of iron ore and coal coal to continue.
Ministers were discussing plans to replace the explosive furnace in the zing and replace the electrical pressure furnace that could recycly recycled steel instead of replacement.
There was a similar agreement with India Tata Covering the site on the portboat of South Wales, which has closed two explosion furnaces there.
Jing sought $ 1.2 billion towards its proposed £ 2bn project to switch to green steelmaking. It was gone when the government offered only $ 500 million.
Before selling in jing for nominal quantities, the business was taken under the control of the state in 2019 in 2019. It costs taxpayers £ 600MN in 10 months in 2019 in temporary nationalization.
Officers and other industrial experts are preparing a “investment case” to attract third -party buyers for British steel, but the business secretary has said that nationalization of the organization remains a “possible alternative”.
