TATA steel shows how our steel industry is being held to ransom. Renationalise!

TATA Steel keep threatening job losses over & over until the government steps in, time it took back our steel industry instead.
Right, so our steel industry is once more taking a clobbering as TATA Steel are set to make 2,800 people in Port Talbot redundant, but what has made this story all the more angering is that for years and years TATA have threatened the government with closure of the Port Talbot plant, the lifeblood of Port Talbot for years unless they’ve coughed up subsidies to the company and the Tories have duly obliged on repeated occasions over the last 14 years of their abhorrent reign, but with Labour having allowed the Indian conglomerate to buy the plant in 2007. Both are to blame, but then New Labour were a bunch of Tories, as is it’s reincarnation under Keir Starmer now. Starmer of course last year, you might remember, made a big thing about steel being made for warships by British Steel and by that you might be thinking that we still have some semblance of a steel industry, but actually British Steel, based in Scunthorpe, make steel plate, do not make steel section for shipbuilding, and are actually owned by the Chinese. Our entire steel industry, which so much of our other industries rely on, our national defence relies on, is beholden to foreign corporations to make our steel for us and as TATA are showing, the threat of packing up and leaving works to get money out of the government to keep it going. It is a matter of national interest and national security that we renationalise our steel industry, we’re a global laughing stock over this and what makes the world laugh even harder, is that be it Sunak or Starmer, they’ll sell the industry again to another foreign body.
Right, so let’s start with a bit of context for our steel industry here, how we got into this mess, because it leads us into the situation our steel industry now finds itself in.
Now British Steel was one of many public assets not nailed down that the Tory government of Margaret Thatcher flogged off and in the case of British Steel this happened in 1988, by which point the industry, under government control had doubled production since Thatcher came to power in 1979 and was turning a profit, which, being a nationalised service, was cash to be sunk back into delivering an even better service in the national interest, and was costing us all less to produce. Naturally, the Tories felt shareholders should get that money instead and sold it, but all very sneakily, because what they did with British Steel was very similar to what they did with our water companies, which was to change the British Steel Corporation, the nationalised industry, into British Steel plc, a private company and all assets, good and chattels were transferred to this and then along came the investors. The trouble with private companies is that they can be bought and sold, taken over and come 1999, British Steel plc ceased to exist as it merged with a Dutch Company which I cannot pronounce and am not going to attempt to, but once the merger went through it all became the much more easy to pronounce Corus Group. So now our steel industry was owned by Denmark in effect.Show more

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