UK unions in bid to save 6,000 steel jobs

Union leaders were today finalising a £90m plan aimed at saving 6,000 Corus steel jobs.

The Iron and Steel Trades Confederation's scheme would pay half of Corus's wage bill in return for a one-year stay of execution.

Unions believe the trading position will improve later this year, leading Corus to retain capacity at threatened UK plants

ISTC leaders will hold last minute talks tomorrow with the British Trade and Industry Secretary, Stephen Byers, whose support for the plan is important.

They will then meet the company on Tuesday formally to present the proposal.

The jobs of thousands of people across the country depending on Corus's response.

Barrister Cherie Booth has told the union that the Government will be able to help subsidise its plan without breaching European state aid rules.

An ISTC spokesman said today: "The next 48 hours are crucial. We will find out whether or not the government has the political will to make this plan work."

The spokesman added that if Corus rejected the proposal unions would have "grave fears" for the future

Industrial action ballots could be launched if Corus turned down the union plan.