TJC1 Posted October 20, 2015 Share Posted October 20, 2015 Depends. Do we ring fence sectors that are crucial to a local economy? National security? We (well, some of us weren't) were happy to splurge billions to prop the banks up. If I was a steel worker facing unemployment id be asking where my bail out was. where do the bail outs stop? energy, gas, steel, finance - how many failing sectors do we the public bail out? was the bail out of banks right or wrong in the first place? im not sure. We just sold shares at 70-80% of their original value. Not a good deal. if we bail out steel, do the public then own the companies? and are we going to get our money back? I think companies like TATA etc should focus on profitability first, because we are competing in a global market. China don't care, they will keep finding efficiencies and put us out of Business. Failing that, we just put everything public! ---------- Post added 20-10-2015 at 17:55 ---------- the government obviously don't have steel top of the agenda. They just subsidised fossil fuels I noticed (£££££££££££). ---------- Post added 20-10-2015 at 17:57 ---------- I would be interested to know if the net increase to the government in terms of increased benefit payments ect to those out of work were used to assist the steelworks in some way maybe reduced taxes or rent would they be able to stay open at least for the short term if so would it not be better to do this than have all those people lose their jobs. At some time in the future the price of Steel could rise again making the industry viable without subsidies. or retrain people. Could be flogging a dead horse. Link to comment Share on other sites More sharing options...
999tigger Posted October 20, 2015 Share Posted October 20, 2015 excellent post and exactly the state of affairs. Except he misses out the state subsidies and dumping by the Chinese. So not exactly the state of affiars, although I agree with the sentiment. Link to comment Share on other sites More sharing options...
ricgem2002 Posted October 20, 2015 Author Share Posted October 20, 2015 the tories will let the steel industry fall in this country and let foreign companies dictate what we pay. does this remind us of what happened in the 80s look at the state of our gas/electricity/manufacturing industries all forign owned and dictating prices to us will we ever learn:huh: Link to comment Share on other sites More sharing options...
taxman Posted October 20, 2015 Share Posted October 20, 2015 the tories will let the steel industry fall in this country and let foreign companies dictate what we pay. does this remind us of what happened in the 80s look at the state of our gas/electricity/manufacturing industries all forign owned and dictating prices to us will we ever learn:huh: Funny how we are happy to sell all our assets to foreign state owned industries, like the French state railway company running our trains, but the successful nationalised East Coast Rail wasn't even allowed to tender for the contract it already had. And they call Corbyn ideological. Link to comment Share on other sites More sharing options...
999tigger Posted October 20, 2015 Share Posted October 20, 2015 the tories will let the steel industry fall in this country and let foreign companies dictate what we pay. does this remind us of what happened in the 80s look at the state of our gas/electricity/manufacturing industries all forign owned and dictating prices to us will we ever learn:huh: Tbh the companies were already foreign owned Tata is Indian and SSI I think Thai. Link to comment Share on other sites More sharing options...
ricgem2002 Posted October 20, 2015 Author Share Posted October 20, 2015 Tbh the companies were already foreign owned Tata is Indian and SSI I think Thai. and before they became foreign owned erm let me guess were they british:roll: Link to comment Share on other sites More sharing options...
Fudbeer Posted October 20, 2015 Share Posted October 20, 2015 How much did the government spend saving the banks from a disaster they bought on themselves? Link to comment Share on other sites More sharing options...
phantom309 Posted October 20, 2015 Share Posted October 20, 2015 How much did the government spend saving the banks from a disaster they bought on themselves? The difference is the steel company's owners are not their mates I do not think that there is many governments who would support foreign owned companies Link to comment Share on other sites More sharing options...
999tigger Posted October 20, 2015 Share Posted October 20, 2015 The banking system melting down is too important for the country. They can do without steel, especially as its mostly in the North. They are limited in what they can do, but they dont seem too fussed tbh. Link to comment Share on other sites More sharing options...
ricgem2002 Posted October 20, 2015 Author Share Posted October 20, 2015 The difference is the steel company's owners are not their mates I do not think that there is many governments who would support foreign owned companies erm except this one Link to comment Share on other sites More sharing options...
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