UK Steel Industry Questions Value for Money on Gov't Funding

The UK government is committing £2.5 billion to steel-making, but the value for taxpayers is questionable. Speciality Steel UK, a vital supplier of steel for aerospace, defense, and energy sectors, is at a standstill and has failed to find a private sector buyer. The government's green obsession has led to the shutdown of steel-making at Port Talbot and British Steel at Scunthorpe. Traditional coking steel plants are being replaced by greener electric arc furnaces, but this may not be the answer to the implosion in British steel-making, which can be traced back to Tata Steel's acquisition of Corus in 2007.