To subsidise or not…. The British steel industry

The British steel industry is arguing that corporate welfare provided by China is rigging the market.

The UK government has accordingly promised additional support to the industry, although this will take the form of assistance to those who lose their jobs. The arguments for greater intervention to protect the industry are great – but any such support should be transparent and be underpinned with conditions. It would also have to be much more significant than the kinds of figures mooted by government if it is to make any difference.

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