"Must be that government needs to nationalise (back to British Steel, as it used to be) and scale down or ramp up their investment in the steel industry, or whatever makes sense..."
Well you would think so, steel being a "strategic" national commodity...but they would rather throw billions in subsidies to (foreign) private concerns whom they forget have no such reponsibility...that's the whole privatizing ethos.
Think the 50 million was for the electrification of aforesaid blast furnaces to make them "green"...so still abe able to produce at least some steel product...but who knows if that will go ahead now...sacking most of the workforce before you do it is not a good sign.
Modern Britain has always puzzled me...the country that produced the world's Industrial Revolution also produced a wealthy elite who spent all their "new" money trying to entrench themselves as landed gentry, rentiers & financial gamblers: who didn't want to get their hands dirty any longer with "trade" . Their children were brought up likewise: the British elite are educated to be wealthy now but can't run shit.
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