William Eichler 22 May 2019

British Steel’s financial troubles could cost councils nearly £3m

Local authorities could lose £2.8m in business rates should British Steel go into administration, a real estate company has calculated.

The UK's second-biggest steel maker has been trying to secure £30m of emergency funding from the Government to prevent it going under in the face of Brexit, weak demand and expensive raw materials.

If the company were to go into administration, 5,000 jobs would be at risk and 20,000 jobs in the supply chain would be endangered.

It would also cost local authorities around £2.8m in business rates, according to Colliers International.

This would hit some of the UK’s most deprived areas, such as Scunthorpe and Port Talbot. It would also affect South Killingholme and Redcar and Cleveland.

‘British Steel’s predicament mirrors other UK manufacturers trying to balance the uncertainties surrounding Britain’s planned exit from the EU, a reduction in demand and higher costs,’ said John Webber, head of rating at Colliers International.

‘British steelmakers pay some of the highest green taxes and energy costs in the world and are saddled with high labour costs and business rates.’

SIGN UP
For your free daily news bulletin
Highways jobs

PRINCIPAL TRANSPORT PLANNING OFFICER

Hull City Council
£43693 - £46731
We have an exciting opportunity for an experienced professional to join our team in Hull as a Principal Transport Planning Officer. Kingston upon Hull, East Riding of Yorkshire
Recuriter: Hull City Council

HIGHWAYS AND TRAFFIC ENGINEER - 4 POSTS

Hull City Council
£43693 - £46731
We have several exciting opportunities for suitably qualified Highways Civil Engineers and Traffic Engineers Wilson Centre, 1st floor, Hull HU1 2AG
Recuriter: Hull City Council

Strategic Director, Finance and Resources (S.151 Officer)

Blackburn with Darwen Borough Council
£110,799 - £120,706
Blackburn with Darwen is a distinctive, welcoming and vibrant borough with a strong identity and a genuine buzz about the place. Blackburn, Lancashire
Recuriter: Blackburn with Darwen Borough Council

Residential Worker, Edge of Care Service

Durham County Council
Grade 7 £29,093 - £32,654 PAY AWARD PENDING
Join a Groundbreaking Team Supporting Families in Seaham Salary
Recuriter: Durham County Council

Bikeability Cycling Instructor

Durham County Council
Grade 4 £24,790 to £25,992 pro rata (Pay Award Pending)
The Road Safety Team are keen to recruit additional Casual Bikability Instructors to join our team of instructors delivering Bikeability cycle trainin Durham
Recuriter: Durham County Council
Linkedin Banner