British Steel: Three options for government
British Steel – the Scunthorpe steelworks with a brand name revived by using private traders Greybull – says it desires £75m of government help to avoid collapse.
Business Secretary Greg Clark faces three choices in weighing up whether to intervene:
hand over £75m of taxpayer’s money to a personal enterprise with a chequered song document that sold the Scunthorpe works for a £1
allow British Steel to go bust with the loss of 4,000 direct jobs and 20,000 more at hazard in the provide chain
What are the implications of each of these options?