Former LibDem minister and arch-Europhile Steve Webb has told the truth about the EU hampering any bailouts of steelworkers’ pensions:
“The issue there is you’re not allowed to subsidise your own industry where they’re competing with other peoples, and the EU come down particularly hard on steel, because the EU takes the view that there’s too much steel capacity. So it’s hard to see that working for the government.”
Webb actually has form for EU honesty, he warned of the “devastating impact” of Brussels legislation on pensions a few years ago. How refreshing!
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