Britain is not ready for the steel crisis

21.12.2015 / 02:52

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TThe UK government was prepared for the crisis that hit the steel industry this year, when cheap imports led to a wave of factory closures and thousands of job losses.

Sahaviriya Steel Industries UK said in October that it will close its plant in Redcar, northern England. Tata Steel Ltd., the largest producer in the country, also eliminated positions this year.

The wave of closures in the UK, the industry has resulted in at least 4,000 job cuts in the past few months.

Problems in the industry will put pressure on economic growth and on the labor market. Likely increase in interest rates will become more distant goal

E.Dimitrov JrTrader

Varchev Traders

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Britain is not ready for the steel crisis

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