State archives: Dukes warned Government about funding for Irish Steel

The Government continued to pour money into the ailing Irish Steel plant in Haulbowline, Co Cork, during 1985 — despite the clear misgivings of then Minister for Finance Alan Dukes.

State papers show the Minister for Industry John Bruton sought Cabinet approval to invest IR£18m in the company on December 3, 1985.

Irish Steel had received IR£6m six months earlier, on condition that it negotiated a pay freeze with its staff until the end of 1986 and a redundancy scheme which would cut labour costs by at least 10%.