Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Labour Appeals to Tata Steel to Postpone Port Talbot Closure Amid Strike Threat

by June 29, 2024
June 29, 2024
Labour Appeals to Tata Steel to Postpone Port Talbot Closure Amid Strike Threat

Labour politicians are calling on Tata Steel to refrain from making irreversible decisions before next week’s general election.

The Indian company recently announced it plans to expedite the shutdown of blast furnaces at its Port Talbot plant due to impending industrial action.

As Britain’s largest steel producer, Tata Steel has informed workers at the South Wales site of potential early cessation of operations, prompted by a looming strike by Unite union members.

The company had originally planned to close one furnace by the end of June and the second by September, transitioning to a more environmentally friendly electric arc furnace as part of a government-backed initiative.

Unite has initiated strike action to protest these plans, which they claim will lead to the loss of thousands of jobs.

In response to the planned strike on July 8, Tata has stated it is “left with no alternative but to take preparatory steps to cease operations on both blast furnaces and safely isolate them no later than July 7.”

This announcement has drawn condemnation from Unite and calls from Labour politicians for Tata to delay their plans. Stephen Kinnock, Labour’s parliamentary candidate for Aberafan Maesteg, and David Rees, Labour’s Senedd member for Aberavon, issued a joint statement stressing the importance of prioritising the safety and security of steelworkers and the plant.

They added: “Tata wouldn’t be facing strike action if it hadn’t chosen to proceed with the closures of the blast furnaces so hastily. We have consistently urged Tata to avoid any irreversible actions until after the general election, given the potential for discussions with a Labour government regarding a £2.5 billion steel renewal fund.”

Labour has pledged to secure a better deal for the steel industry if they come to power and has previously urged Tata to consider a compromise plan, supported by Community and GMB unions, to maintain one blast furnace until the electric arc furnace is operational. This proposal, however, would cost taxpayers more than the £500 million offered by the current Conservative government and has been rejected by Tata, which plans to invest £750 million to decarbonise its UK operations under the existing agreement with ministers.

Tata, which has taken legal action against Unite’s strike ballot, emphasised that pausing or stopping heavy operations, including both blast furnaces, is not a decision taken lightly due to its significant cost and disruption across the supply chain. The company insists that the safety of people on or around their sites remains their top priority.

Unite’s general secretary, Sharon Graham, commented: “Tata’s threat to shut or pause its blast furnaces three months earlier than planned is the latest in a series of intimidations that will not deter us. We urge the real decision-makers in Mumbai to intervene in this dispute.”

Read more:
Labour Appeals to Tata Steel to Postpone Port Talbot Closure Amid Strike Threat

0
FacebookTwitterGoogle +Pinterest
previous post
Top 10 Stocks to Watch in July 2024!
next post
Gary Lineker Scores Big with Podcasts as Football and Elections create a Hattrick of Earnings

You may also like

Why I’m Supporting British Farmers Against Ill-Thought-Out Inheritance...

November 17, 2024

Best CBD Oil UK by EUSPHERA: Buyer’s Guide...

December 22, 2022

David Lloyd adds desks and spas so members...

January 2, 2025

Ineos in talks with Rolls-Royce on mini-nuclear power...

November 28, 2022

Taxpayers could lose £100m as HS2 land no...

October 20, 2023

Randy Larson Financial Planner and Attorney Focuses on...

August 8, 2024

Some of Britain’s biggest names on guest list...

December 7, 2022

Corporate profiteering ‘significantly’ boosted global prices, study shows

December 7, 2023

Less than a quarter of Brits passed this...

July 3, 2023

Morrisons scraps four-day working week for head office...

January 24, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Friday Feature: Incubate Debate

      June 6, 2025
    • Risch urges ‘top to bottom’ USAID spending review after waste, fraud exposed

      June 6, 2025
    • Universities in Libertarian Land

      June 6, 2025
    • Elon Musk may speak to Trump aides in push to calm feud

      June 6, 2025
    • Everyone Talks About Leaving a Better Planet for Our Children: Why Don’t We Leave Better Children for Our Planet?

      June 6, 2025
    • MARK HALPERIN: Democrats try to construct a Frankenstein candidate while JD Vance gains momentum for 2028

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,013)
    • Politics (15,545)
    • Stocks (3,130)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved