Well IMO, this is first good thing to come out of Trumps policies,the U.K may nationalise the last remaining steelworks, interesting that the U.K is considering sending war ships, to escort essential feedstock to ensure the furnaces aren't crippled, or the Chinese don't redirect the supplies.
So much for the softly softly approach.
The Pommie workers, stopped the Chinese bosses from entering critical areas of the plant, now China knows why Russia always wants to blow up the U.K.
Intervention follows a breakdown in talks between the UK government and British Steel’s Chinese owner, Jingye Group.
UK steps in to save British Steel as nationalisation looms
Intervention follows a breakdown in talks between the UK government and British Steel’s Chinese owner, Jingye Group.
The intervention follows a breakdown in talks between the UK government and British Steel’s Chinese owner, Jingye Group, over plans to transition the firm to greener production methods.
After the vote, British Prime Minister Keir Starmer travelled to the site, warning that the blast furnaces – losing $915,600 (700,000 pounds) a day – were on the brink of closure.
Reynolds said a full state takeover was “increasingly likely” given the conduct of the firm’s current owners. “A failure to act today would prevent any more desirable outcome from even being considered,” he said.
The Royal Navy could be deployed to deliver an essential fuel shipment to Scunthorpe's blast furnaces after MPs voted to seize control of British Steel from Chinese owners.
The extraordinary Saturday sitting to save British Steel's Scunthorpe plant from closing required the new law to clear both houses unopposed and receive royal approval before nightfall, in order to empower Business Secretary Jonathan Reynolds to assume command before the furnaces were extinguished.
It was the first Saturday sitting since the
Afghanistan crisis in 2021.
It came amid dramatic scenes as, just hours before the legislation passed, executives from Chinese owners Jingye attempted to enter the plant but were blocked by British Steel workers until police arrived and forced them to leave.
While the new law stopped short of nationalisation, Mr Reynolds said full state ownership 'remains on the table' and may be the 'likely option' for British Steel.
He accused the company of failing to negotiate 'in good faith' after it decided to stop buying enough raw materials to keep the blast furnaces going.
He also accused the plant's owner of trying to
shut down Britain's steel industry, saying Jingye, which bought British Steel in 2020, has 'irrevocably and unilaterally closed down primary steel making'.
The intervention came amid fears that the plant could close within days, putting thousands of jobs at risk.
The Steel Industry (Special Measures) Act gives the Government the power to instruct steel companies in England to
keep the plant open, with criminal penalties for executives if they fail to comply.
While being seen as a step towards nationalisation, sources said that the preference was to secure new private investment to save the plant, which Jingye says loses £700,000 a day.
A Government source said it took a 'big political heave' to get officials to pass the legislation and change the mindset of Whitehall to pave the way for potential nationalisation.
But opposition MPs accused ministers of a 'botched nationalisation', with Conservative MP Alex Burghart saying the Government had made a 'total pig's breakfast' of saving British Steel.
Reform UK's deputy leader Richard Tice called on Mr Reynolds to 'show your cojones' and nationalise British Steel, claiming it could become a 'long-term, viable' asset for taxpayers, adding: 'We will support this Bill today. But there is an opportunity to go further, to be bold, be courageous.'
Police were called to the scene and forced bosses of British Steel owners Jingye to leave after they were prevented from accessing core areas of the plant, according to The Times.
Chinese bosses reportedly tried to enter key areas of British Steel's Scunthorpe plant only hours before a crunch debate that could bring the furnace under government control.
Police were called to the scene and forced bosses of British Steel owners Jingye to leave after they were prevented from accessing core areas of the plant, according to The Times.
