Tata puts British businesses up for sale

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Tata-puts-British-businesses-up-for-saleCommenting on the announcement by Tata, Terry Scuoler, Chief Executive of EEF, the manufacturers’ organisation, said:

"This is potentially a massive blow for the UK steel industry, wider manufacturing and for the local community.

"It is now essential that ongoing support is provided by the company to continue operation of the plant which will provide time to find a suitable buyer. In tandem with this, the UK and Welsh Governments must match words with action and take all necessary steps to ensure there is a future for the steel industry in the UK by any means possible.

"As well as short term emergency measures, in the longer term we need to see all major procurement projects, from HS2 to Hinckley Point, all using British Steel. Ministers can also do more by reforming business rates to exclude some of the penalties steel companies and others face if they invest in plant and machinery. Alongside this, the UK has one of the highest electricity costs for the energy intensive industries in Europe because of hindering domestic policy. We need to see a level playing field with our European competitors to ensure a positive future for the steel sector.

"Finally and, perhaps most importantly, it is vital the UK Government supports aggressive measures at EU level to prevent Chinese dumping."

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