I used to commute from Sheffield to Rotherham, where I saw the damage from coal and steel closings. Not pretty. Whole towns can be devastated as the laid-off workers have little money to spend (I was working in social security so I saw how many families were affected).
There is also the cost to the government of unemployment benefits for these workers and their families to take into account. What would be the net cost per job or per Brit after taking that into account?
Steel and coal are not entirely fungible - there are different types for different purposes, so it may not be as easy as you'd think to find alternative markets, perhaps supplying those who used to import from the USA, but I hope the government will try.
As you point out, they have to be quick to keep the furnaces going. If the plants had been making a loss for so long, I wonder why they had to act so quickly to cancel the coke. Utter despair? Or hoping to force the government's hand for a subsidy? Certainly nationalisation would be a better investment for the government. The owners would no doubt keep coming back for more.
£3.70 sounds affordable, but what if there are many other industries and corporations that need bailing out? I would not want to be in Starmer's position right now.
I used to commute from Sheffield to Rotherham, where I saw the damage from coal and steel closings. Not pretty. Whole towns can be devastated as the laid-off workers have little money to spend (I was working in social security so I saw how many families were affected).
There is also the cost to the government of unemployment benefits for these workers and their families to take into account. What would be the net cost per job or per Brit after taking that into account?
Steel and coal are not entirely fungible - there are different types for different purposes, so it may not be as easy as you'd think to find alternative markets, perhaps supplying those who used to import from the USA, but I hope the government will try.
As you point out, they have to be quick to keep the furnaces going. If the plants had been making a loss for so long, I wonder why they had to act so quickly to cancel the coke. Utter despair? Or hoping to force the government's hand for a subsidy? Certainly nationalisation would be a better investment for the government. The owners would no doubt keep coming back for more.
£3.70 sounds affordable, but what if there are many other industries and corporations that need bailing out? I would not want to be in Starmer's position right now.
Steamer is between a rock and a hard place with the steel business and the tariff debacle. Rather him than me!