The Corus Redcar Closure, Tata and exporting jobs to India. A disgrace!
I came across this rather enlightening article by Christopher Booker writing at the Telegraph.co.uk
The owners of Corus, Tata, have recently announced the closure of the Redcar steel plant, which will have a devastating effect on the workers and the economy of an already deprived area. Whilst the stated reason for the closure of the plant is a lack of demand for steel, the parent company is planning to double its steel production in India over the next three years as well as building a new plant in the Netherlands funded by European tax payers.
A further twist in the story, is that not only could Tata benefit in a saving on “carbon allowances” to the tune of £600M over the next three years, but India could gain by selling carbon allowances back to Europe under the carbon trading scheme. The net effect on carbon emissions will be absolutely minimal with steel production simply moving, and not reducing.
This would appear to be a financial model to export jobs from Europe around the world, funded by Europe itself!
Please follow the link below and read the full article which makes fascinating if slightly disturbing reading. The number of comments by readers, which follow the article make for a good read in themselves.
What links the Copenhagen conference with the steelworks closing in Redcar? – Telegraph
Posted: December 15th, 2009 under Steel, Steel Comment, Steel International.
Comments: 4
Comments
Comment from Paul Bunnage
Time: January 7, 2010, 7:24 pm
Absolutely digraceful. It is time we had politicians in power who have woken up to this euro-scam and started looking after OUR national interests.
Comment from a locker
Time: January 28, 2010, 10:11 pm
is anyone surprised anymore? its been happening for years that foreign companies buy out our companies and then asset strip.I lost2 jobs because of foreign take overs and our lilly livered weak kneed government are the worst of the lot. selling the family silver for a pittance. take the gold reserves I would bet money the government cleaned up in back handers with that one. we need to force through laws that do not allow these practices and make sure that the punishment is worse than the crime. perhaps I need to be a dictator for a few years to sort out all this dispicable behavior both from industrialists and Government
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Time: February 25, 2010, 2:51 pm
[...] The Corus Redcar Closure, Tata and exporting jobs to India. A disgrace! [...]
Comment from Keith Johnson
Time: January 11, 2011, 11:20 pm
When will the goverment get together with the wealthy elite in the UK get them to buy back these core industries!
Then drop taxes to 10% flat rate, this would significantly reduce production costs, hey presto world beating prices!
Exports increase massively
Company value increases massively
Loads of folk then have Jobs ( worthwhile jobs )
The government pays out far less dole/job seekers.
And the Goverment actually gets considerably more tax revenue as a result!
Doesnt take a genius to work out we need a 10% flat tax rate on business.
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