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UK to take emergency control of British Steel, with nationalisation on the table

(www.reuters.com)
15 points pmags | 3 comments | 12 Apr 25 15:38 UTC | HN request time: 0.258s | source
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pmags ◴[12 Apr 25 15:39 UTC] No.43665309[source]▶
Is this move in response to all the trade uncertainty of recent weeks/months or was there such a move in the works prior to the tariff chaos?
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toomuchtodo ◴[12 Apr 25 15:41 UTC] No.43665327[source]▶
It’s about maintaining the manufacturing capability as a national security concern.
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1. pmags ◴[12 Apr 25 15:47 UTC] No.43665395[source]▶
Yes, I get that.

My question was aimed at what was the broader context that led the UK government to issue an emergency recall of lawmakers to make this happen so quickly.

I assume, perhaps incorrectly, that the problems with British Steel have been a long time coming?

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2. LinuxBender ◴[12 Apr 25 16:00 UTC] No.43665525[source]▶
This historically happens in the lead-up to world wars. Large amounts of steel will be required for automotive companies to switch to building tanks and other military vehicles. It is probably also a factor that the company is Chinese owned. Imports will cease before things pop off.

He acknowledged that the emergency law was "pretty unprecedented", but said it meant there would be a future for steel in Britain and that it was in the national interest.

3. tonyedgecombe ◴[13 Apr 25 06:55 UTC] No.43670657[source]▶
The owner was planning to shut the plant down. Restarting a blast furnace is challenging as the iron solidifies in the bottom of the furnace.