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No guarantees over future of Tata Steel assets: Cameron

business Updated: Mar 31, 2016 16:33 IST
Cameron

UK Prime Minister David Cameron said there were no guarantees that Tata Steel’s business in Britain would be saved after the Indian company put it up for sale.(AFP Photo)

Prime Minister David Cameron said there were no guarantees that Tata Steel’s business in Britain would be saved after the Indian company put it up for sale and that 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.

“This is a difficult situation. There is no guarantees of success.”