By Eliot Wilson The government’s £500m rescue package for the Port Talbot steelworks is an unsatisfactory trade-off between job losses and industry efficiency, says Eliot Wilson Was it a welcome reprieve or another sad measure of decline? Last week the business and trade secretary, Jonathan Reynolds, announced a revised deal with Tata Steel to provide a £500m subsidy for modernising its Port Talbot facility and allowing steel-making to continue. The government also promised to publish a ‘steel strategy’ next year and invest a further £2.5bn to redevelop Port Talbot and contribute to the decarb…