Why the secrecy around financial terms of Covid-19 loan to Celsa Steel UK? Nils Pratley

Rishi Sunak is right to help sector weather pandemic but needs to show Treasury is top of tree of creditors

Call it a small but significant step in the government’s Covid-19 business response: a loan has been granted to a company that does not meet the lending criteria for other support schemes.

Celsa Steel UK, Spanish-owned but operating in south Wales, is the recipient. The sum is thought to be relatively small – about £30m – but 1,000 jobs were at risk. Chancellor Rishi Sunak seems to have decided the UK steel industry must not buckle during the pandemic.

Continue reading… Source: The Guardian: Why the secrecy around financial terms of Covid-19 loan to Celsa Steel UK? Nils Pratley ———

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