The steel industry in the UK kas been hit by Tata announcing it will sell off it's UK assets. This has prompted the obligatory outpourings of 'we will do all we can' from the politicians, when the reality is that they can do very little. Some have called for the nationalisation of this 'strategic' industry, whilst others have taken the opposing view that if a business if failing, what the point of keeping it? ..and you can buy your steel from up to 60 countries if you really wanted to.
The word is that the Port Talbot plant is losing a million pounds very day. That's an eye-bogglingly large amount of money for the 4000 people who work there. They can go home at night and say they have lost another £250.
I know there are comparisons with the banking industry that was bailed out with huge amounts of cash, but banks that affect every one of us are different to a failing business that affects relatively fewer people, and what alternaives are there to banks?
I feel that any cash has to be injected into new business, re-training etc. Not easy from a political point of view, and that is one of the problems - telling people they will not get any money to help them, but giving them an alternative that is painful in the short term but better in the long.
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