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Next British PM to decide fate of Tata Steel UK's demand for subsidy

Tata Steel seeks 1.5 bn pounds subsidy to keep operations afloat

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Dev Chatterjee Mumbai
The fate of Tata Steel’s UK business has shifted to the next British Prime Minister who has to take a decision on whether to grant a 1.5 billion pounds ($1.8 bn) subsidy to the company or let it shut down.

This was indicated by UK business secretary Kwasi Kwarteng after Tata chairman N Chandrasekaran warned on Friday that the subsidy to the British steel plant is necessary within the next one year to keep the steel plant in the UK operational or the plant will close down.

The Financial Times reported on Saturday that Kwarteng’s stance is significant because he

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First Published: Jul 24 2022 | 3:16 PM IST

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