UK Steel Industry Requesting Government Help
Recent times have been troubling for the steel industry and some manufactures are seeking aide from the government. Due to increased competition and decreased prices, steel makers in the UK are asking the government to step in and safeguard the steel industry and its future. br> br>
The request for government assistance, which includes reducing UK steel companies’ business rates and emissions targets, is in wake of SSI – a Thai based steel company – pausing production at their Teesside steel plant. The halt in production is effecting the jobs of 2,000 people. Now, UK steel companies want to ensure their future – which is where they are hoping the government will step in. br> br>
The threat of closure that looms over the plant is a warning to the rest of the industry and before things get worse, the British market is hoping the country’s government will provide the necessary assistance to keep the industry afloat. br> br>
UK Steel said that sector of the market employs about $30,000 people and continues to make massive contributions to stimulate UK’s economy. The UK government said they can only provide limited assistance but there will be a crisis summit held to address the issue.