No guarantees over future of Tata Steel assets- PM Cameron

Updated: 00:00 GMT, Jan 1, 1970 | Published: 12:16 GMT, Mar 31, 2016 |

Prime Minister David Cameron said on Thursday (March 31) there were no guarantees that Tata Steel’s business in Britain would be saved after the Indian company put it up for sale. Cameron said he did not believe nationalisation was the right answer for the industry.

The government has faced criticism over its response to the news, with opposition lawmakers saying it was “asleep at the wheel” when Tata, the country’s biggest producer, put its loss-making British operations up for sale earlier this week.

“We’re not ruling anything out,” he said after meeting ministers to discuss the crisis that could put at least 15,000 jobs at risk.

“I don’t believe nationalisation is the right answer, what we want to do is secure a long-term future for Port Talbot and for other steelmaking plants in the United Kingdom.”

He said that he has worked with others in Europe to introduce penalties for those who dump steel.

“This is a difficult situation. There is no guarantee of success,” he added.