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Mr Boris Johnson Will Back British Steel with Taxpayer Cash

Steel News - Published on Fri, 12 Jul 2019

Image Source: Reuters
Telegraph UK quoted Mr Boris Johnson as saying that British Steel will still be bankrolled by the Government until a buyer is found, if he becomes prime minister. Mr Johnson, leading the battle for No 10, promised to back the Scunthorpe-based company that was put in compulsory liquidation under the control of the Official Receiver in May.

British Steel collapsed when owner Greybull failed to secure a £30m state bailout, throwing into jeopardy the jobs of its 5,000 staff and another 20,000 positions in its supply chain.

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Posted By : Ratan Singh on Fri, 12 Jul 2019
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