I wouldn't trust any government guarantee. Apparently the Italians justify subsidising their steel industry by saying that their steel is superior quality to Chinese steel. We could do the same. The government could save the jobs, although it would mean that the price of steel for manufacturers would rise, whether we leave the EU or not. Personally, I think the jobs are worth saving, because it's not just the steel workers who will be affected, but the whole supply network. I also think that any country without a steel industry is vulnerable when the Chinese decide to raise their prices, which they almost certainly will when their manufacturing picks up. Once the skills are gone, we won't be able to train people to restart. I also think that the UK needs a long term strategy for replacing the jobs. We don't ever seem to learn, whether it's coal, ship building, steel or whatever.