THE mood on Teesside has been gloomy in recent weeks after mounting speculation was finally confirmed that the local steel industry is to shed 1,700 jobs.
But today we are in a position to reveal a chink of light amid the darkness.
The Northern Echo is able to confirm that a rescue bid, led by a highly respected North-East business, will be placed on the table for consideration.
It would be wrong to overstate the significance of the proposal because the last thing we wish to do is raise false expectations.
There is a long way to go before the plan is turned into reality, but it is at least a sign that all is not yet lost.
It needs to be stressed that this is not a proposal which will see the full extent of the job losses reversed. But it does have the potential to keep the blast furnace lit in the hope that global steel prices pick up and a new operator can be found.
The Northern Echo is privy to the details behind the proposal, and the name of the business leading the rescue bid, but we have agreed to keep confidences until further discussions have been held and, hopefully, progress made.
David Cameron has so far stayed silent on calls to intervene. This is a chance for him to put the Government’s stamp of approval on a plan, spearheaded by the British private sector, to at least give Teesside’s steelworks a fighting chance.
It would keep hundreds of people in work for the foreseeable future and give others hope that there may be a way back at some point in the future.
The British Government needs to do the right thing.THE mood on Teesside has been gloomy in recent weeks after mounting speculation was finally confirmed that the local steel industry is to shed 1,700 jobs.
But today we are in a position to reveal a chink of light amid the darkness.
The Northern Echo is able to confirm that a rescue bid, led by a highly respected North-East business, will be placed on the table for consideration.
It would be wrong to overstate the significance of the proposal because the last thing we wish to do is raise false expectations.
There is a long way to go before the plan is turned into reality, but it is at least a sign that all is not yet lost.
It needs to be stressed that this is not a proposal which will see the full extent of the job losses reversed. But it does have the potential to keep the blast furnace lit in the hope that global steel prices pick up and a new operator can be found.
The Northern Echo is privy to the details behind the proposal, and the name of the business leading the rescue bid, but we have agreed to keep confidences until further discussions have been held and, hopefully, progress made.
David Cameron has so far stayed silent on calls to intervene. This is a chance for him to put the Government’s stamp of approval on a plan, spearheaded by the British private sector, to at least give Teesside’s steelworks a fighting chance.
It would keep hundreds of people in work for the foreseeable future and give others hope that there may be a way back at some point in the future.
The British Government needs to do the right thing.
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