What’s the point of nationalising our steel plants?

We already have Great British Energy, and of course Great British Rail. It now looks as very soon we will also have Great British Steel. The government has today stepped in to rescue another failing metal producer, Speciality Steels in South Yorkshire. It is, in effect, creating a new state-owned steel conglomerate. There is just one catch. It is the government’s incompetently designed net-zero targets that are responsible for bankrupting the industry – and all that nationalising will achieve is making taxpayers responsible for endless losses.

The government is, in effect, bankrupting the companies and then stepping in to rescue them

Britain’s third largest steel works, Speciality Steelworks, today collapsed into administration. It will be placed in the hands of the Official Receiver, wh