Sunday, 1 August 2010

Cameron Meets Corus Owner

DAVID Cameron has held talks with Ratan Tata the Indian tycoon whose company owns Corus.
 The Prime Minister and Ratan Tata met during a trade mission to India this week for talks that were described as “constructive” by Downing Street.
We can o0nly hope that these talks included the ongoing saga of Teesside Cast Products. The Redcar plant was mothballed earlier this year with the loss of around 2,000 jobs despite a long campaign by the local community and Trade Unions.
Talks continue between Corus and Thai industrial group SSI about a possible deal over the Teesside Cast Products (TCP) plant. Unions have recently criticised Corus for not taking the interest of SSI seriously and that they have no intention of selling the plant.
Since TATA paid over £6bn for Corus in April 2007 the UK Steel Industry has gone from record profits to the brink of collapse.
Last year saw a large scale redundancy package announced, unilateral cancellation of production bonus payments and the announcement that the British Steel Pension Scheme would be closed to new employees.
Trade Unions threatened strike action over bonus and pension threats and the company backed down, but they are intent upon negotiating a new bonus scheme and the threat to the pension has not gone away despite 12 months of negotiation.
I wonder if the Prime Minister raised concerns about the obvious agenda for reducing the terms and conditions of UK Steelworkers?
Probably not as cutbacks are a significant part of his own agenda.

6 comments:

  1. I vote he ignored the workers.

    Very good blog.

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  2. Thank you. It's simply a hobby for me because not a lot happens up here.
    A good safe bet especially as he is looking for India to remove trade barriers so that Free Trade can be unleashed upon the sub-continent

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  3. Did labour bother or have interest, nope not until they got kicked out then they found time to say whoops this is wrong, I'm sure Blair would have talked to the owners and ended up richer

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  4. http://www.guardian.co.uk/business/2010/aug/01/corus-boss-pay-two-million-pounds

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