steel industry has ousted away. In 1970 the country was the world’s fourth-largest producer, behind only America, Japan and West Germany. Since then it has tumbled down the global rankings. Production has fallen by two-thirds. And it is about to get even lower. On May 22nd British Steel, the country’s second-largest producer, collapsed, after rescue talks between the government and the company’s owner broke down. Some 5,000 jobs in Scunthorpe and Teesside are at risk.
British Steel’s woes have led some to argue that Britain should rediscover interventionism. One argument for a bail-out is that a thriving steel industry is the basis for a healthy manufacturing sector. Yet it is not clear why Britain needs to produce its own steel, since there is a perfectly good global market in the commodity.
If you are asking this question, you need to consider a new profession. 'Economist' - I think not! 😂😂😂
Shame on you for such a sensationalist post which doesn’t even warrant a reply .. gone down in my estimation 😔
Wow something sensible from you guys.
Right wing press don't know the difference between raw material manufacturing and service industries
Post brexit socilisim Jeremy will be like
Maybe because British Steel is a vital industry that's important to several other vital industries that provide a significant amount of employment & exports while Jamie Oliver's restaurant is just another chain store that will soon be replaced by another just like it.
Why British can't stop political 🔥 Fire ! act soon before it's get all ash ! 😀
Its about the numbers i gues
STEEL OK. RESTURANT NOBAIL OUT
No one knows what that restaurant is or was
Because chicken nuggets. That's why not.
Can’t make tanks out of pizza?
seize the means of production
Bail out Oliver's biz first, cause the public would love it. When they run out of pans, here is your excuse to bail British Steel too. 😀
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