On Wednesday, it was announced that British Steel had been put into compulsory liquidation, effectively putting 4,000 jobs at risk, as well as threatening 20,000 others in the company's supply chain.
This came after talks had reportedly broken down between the government and the company's private equity owners Greybull Capital. Business secretary Greg Clark said that they had worked 'tirelessly' to provide financial support but that there were no remaining options left.
The collapse of British Steel is already being hailed as one of the first major casualties of Brexit with insolvency experts warning that it could cause a 'tsunami effect' that could result in taxpayers footing the bill.
Pro-EU commentators will say that this could have been avoided if the government didn't decide to go through with Brexit but around three years ago one of the countries chief Brexiteers, Nigel Farage believed that leaving the EU would be the saviour of British Steel.
If we vote to Remain on June 23rd it is the end of the steel industry in this country. Simple as that. We must Leave EU.
@BBCBreaking But, but, we voted Leave which we were told would save Steel. Or was that yet another lie from… https://t.co/WsvJoqgGoY
— James #3.5% #FBPA #FBPE (@James #3.5% #FBPA #FBPE)
To make matters worse it has since emerged that Farage, who is an MEP, didn't bother to turn up when the European Parliament voted on the 'protection against steel dumping from third countries' in November.
When MEPs voted on ‘protection against steel dumping from 3rd countries’ last November, Nigel Farage didn’t bother… https://t.co/7MZua3PUlc