Union leaders were today finalising last-ditch plans aimed at saving 6,000 jobs ahead of two crucial meetings in the coming 48 hours with the Government and steel-maker Corus.

The Iron and Steel Trades Confederation is putting together a scheme worth almost £90 million to pay half of Corus's wage bill in return for a one-year stay of execution.

Unions believe the trading position will improve later this year, leading Corus to retain capacity at threatened plans including Llanwern and Ebbw Vale in South Wales, and at Teesside.

ISTC leaders will hold last minute talks tomorrow with the Trade and Industry Secretary, Stephen Byers, whose support for the plan is important.

They will then meet the company on Tuesday formally to present the proposal.

The jobs of thousands of people across the country depending on Corus's response.

Barrister Cherie Booth has told the union that the Government will be able to help subsidise its plan without breaching European state aid rules.

An ISTC spokesman said today: ''The next 48 hours are crucial. We will find out whether or not the government has the political will to make this plan work.''

The spokesman added that if Corus rejected the proposal unions would have ''grave fears'' for the future.

Industrial action ballots could be launched if Corus turned down the union plan.