May 21, 2019 / 11:56 AM / a month ago

UK's Corbyn calls on government to secure British Steel's future

LONDON, May 21 (Reuters) - The leader of Britain’s opposition Labour Party called on the government to secure the long-term future of British Steel on Tuesday, warning any collapse would be devastating for thousands of jobs in northern England.

“The collapse of British Steel would be devastating for thousands of jobs in Scunthorpe, as well as in the wider supply chain,” Jeremy Corbyn said on Twitter. “The government must act to secure the long term future of the steelworks - protecting people’s livelihoods and the community.”

British Steel, the country’s second largest steel producer, will likely collapse unless the government agrees to provide an emergency 30 million pound ($38 million) loan by later on Tuesday, two sources close to the situation said.

Reporting by Kate Holton; editing by Stephen Addison

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