EU Taxes and Regulations Killed British Steel Industry

save our steel

Dave is in Lanzarote, Sajid Javid is on an ill-timed jolly Down Under and Jeremy Corbyn wants parliament recalled to debate the dying British steel industry. While cheaper Chinese imports may have forced prices down, British steel prices have risen £30 per tonne since Christmas, with EU prices nearly £50 higher than Chinese in November. The EU’s 37 failed anti-dumping measures are just a sideshow to the real problem facing the industry: excessive EU green taxes and carbon caps.

By pledging to cut carbon emissions by “at least 40%” in 2030, Brussels has forced energy companies into a spate of investments and divestments, causing chaos within the industry and sending electricity prices into the stratosphere. In the fracking-friendly USA, electricity costs just 7 pence per kilowatt hour – down 2% from last year. In China the cost of coal power has fallen by 2 pence. In Britain the average price per kilowatt hour for electricity last year was 13.9 pence – over 50% higher. As Kate Hoey says:

“The EU’s regulations on energy production are killing our steel industry. It is impossible for the UK to compete with non-EU countries like the US, where electricity costs half the price, and Norway, where energy is 25 per cent of the UK price. They unlike us are free from dogmatic, ineffective rules on energy sources.”

Even if Osborne wants to intervene, his hands are tied in any bailout situation by strict EU government aid laws. The UK had to grovel to EU bureaucrats for permission to off-set the new higher energy costs for the steel industry. Labour voters and Remain-backing unions like the GMB should face facts – the EU won’t save their members and will stop the government from doing so…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Vote Leave’s Dom Cummings on David Davis:

“DD is manufactured exactly to specification as the perfect stooge for Heywood: thick as mince, lazy as a toad, and vain as Narcissus.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Remainers Behind Smears and Negative Briefings Remainers Behind Smears and Negative Briefings
Sunday Shows Sunday Shows
Torbynistas Torbynistas
Meltdown After Nuclear Power Plant Holds Bikini Contest to Choose Interns Meltdown After Nuclear Power Plant Holds Bikini Contest to Choose Interns
The Economist’s Lack of Intelligence Unit The Economist’s Lack of Intelligence Unit
Happy Independence Day! Happy Independence Day!
Exporters Order Books at 29 Year High Exporters Order Books at 29 Year High
“Soft” and “Hard” Brexit Terms Obsolete “Soft” and “Hard” Brexit Terms Obsolete
Could Sinn Fein Make Corbyn PM? Could Sinn Fein Make Corbyn PM?
Russell Brand Has Endorsed Corbyn And The Tories Won’t Be Worried Russell Brand Has Endorsed Corbyn And The Tories Won’t Be Worried
Clegg Spinning Brexit Doom Report Clegg Spinning Brexit Doom Report
Taxpayers’ Alliance Updates Iconic Tory Poster Taxpayers’ Alliance Updates Iconic Tory Poster