The government cannot allow Tata to buckle under Covid pressure Nils Pratley
about 5 years in The guardian
Unlike Virgin, the steel maker really does have a claim to qualify for the Treasury’s Project Birch scheme
The case for bailing out Tata Steel in the UK, via a £500m bespoke loan from the government, is simple: the cost of not rescuing the country’s largest steel maker would be steeper in the end.
Rishi Sunak, the chancellor, has been justifiably strict so far in deflecting “special case” pleas from companies that were too over-indebted before the crisis to qualify for Covid-19 loans. Virgin Atlantic was told, in effect, to ask its billionaire controlling shareholder for a few quid before troubling HM Treasury – quite right, too. Continue reading...
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