The EU’s role in the demise of British Steel | Coffee House:"How ironic that British Steel goes into administration (bankruptcy) on the day before the European elections, putting 4,200 jobs at risk in a leave-voting constituency.
And how utterly fatuous to blame Britain’s vote to leave the EU for the failure of the Scunthorpe plant.
...But that has not been enough to counter the mass of cheap steel that is coming out of China.
...The final trigger for British Steel’s collapse into administration, however, was not low steel prices but arguably a demand from the EU for £120 million worth of payments under its Emissions Trading Scheme (ETS) – which is supposed to provide an incentive for heavy polluters to cut their carbon emissions..."
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