(Finance) – The British government will allocate 300 million pounds to come to the rescue of the steel giant British Steel.
This was reported by the British media who anticipate an expected announcement from Chancellor of the Exchequer, Jeremy Hunt, holder of the Treasury and Finance in the Tory cabinet.
The British executive’s aid package should help British Steel modernize the historic Scunthorpe plant in Lincolnshire (East Midlands), thus replacing the old polluting blast furnaces.