Thread: Here we go again - Port Talbot to axe 1,000 steel jobs
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Old 31-03-2016, 09:57   #60
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Re: Here we go again - Port Talbot to axe 1,000 steel jobs
Quote:
Originally Posted by Damien View Post
I wondered that, considering steel would be needed for HS2, Crossrail 3, a successor to trident and many other things if the Government would find enough business in it's own infrastructure projects? It may be cheaper to import steel but might not be cheaper once you factor in the cost of losing jobs.

That said they seem to be losing so much money at PT that it may be cheaper to buy steel elsewhere and pay off thousands of workers for life than keep it going. I don't really know.
Well, if PT is losing £1 million a day, the Govt could actually pay £20,000 (In benefits and lost tax revenue) to 15,000 people (Which is what is said to be at stake here in total if PT went under) a year. This would cost £821,917 a day, so would be cheaper than eating the losses at the plant. The losses currently at the plant are staggering and to be honest, 15,000 jobs lost is a doomsday scenario. Just taking the plant and eating that sort of loss is not only fiscally irresponsible anyway, but maybe more expensive than the "worst case" scenario.
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