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MPs demand official inquiry into why British Steel went into liquidation

Steel News - Published on Mon, 27 May 2019

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The Mirror reported that Greybull Capital could be grilled in Parliament to explain how the company ended up on the brink as unions, MPs and campaigners backed demands for the Commons ­Business Select Committee to open an inquiry into how the firm was put into receivership, jeopardizing 25,000 jobs. Business Select Committee chairwoman Rachel Reeves signaled this week that MPs could demand evidence from Greybull. She said the committee will want to look at what triggered the collapse.

Shadow Steel Minister Gill Furniss said “There are many questions surrounding the management and finance of the company over the last three years and the workers in Scunthorpe, Teesside and North Yorkshire deserve answers.”

Labour MP Anna Turley, who is secretary of Parliament’s cross-party group on steel, fuelled hopes bosses would be called. She said: “Whilst our priority is securing a future for British Steel, we need answers.”

Unite assistant general secretary Steve Turner called Greybull bandits and the ugly face of capitalism. He said “They should never have been able to get their hands on one of this nation’s strategic industries. Unite is determined they will be exposed for what they are, which is why we are pressing for a parliamentary inquiry and an end to the short-term profiteering that wrecks lives and the economy.”

Community steelworkers’ union operations director Alasdair McDiarmid said “The events are still unclear... MPs have a duty to get the facts out in the open.”

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Posted By : Sanju Moirangthem on Mon, 27 May 2019
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