Steel
Nationalised steel is the last thing Britain needs
- From Keir Starmer to Nigel Farage, our politicians have fallen for a distorted ‘Keynesianism’
- The privatisation of steel was a success story
- If Net-Zero requirements were lifted, steel could still turn a profit in this country, but they won’t be
Have you spotted that when there is consensus support for some bold new measure of state intervention, it proves especially costly and disastrous? Lockdown. HS2. Net Zero. It is not just a political consensus across the main parties. But also the academics and the media. Cue articles beginning, ‘Both sides of industry’. When you hear them all singing the Kumbaya, watch out for your wallet. We had another example on Saturday with the emergency session of Parliament to pass legislation enabling the ‘likely’ nationalisation of British Steel.
Steel nationalisation is a traditional sport of Labour Governments. Clement Attlee did it in 1949. Harold Wilson did it in 1967. Both times saw mismanagement, political interference, industrial decline and heavy taxpayer losses. Third time lucky?
The whole piece is well worth reading as there are a number of other interpretations of this mess. One idea is that this may be a move to discredit Net Zero as an impossible burden on UK steel-making. If so, it would also discredit Ed Miliband, a potential candidate for Keir Starmer’s replacement.
Source: https://akhaart.blogspot.com/2025/04/steel.html
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