British Steel plans to shut down the two remaining blast furnaces at its last plant in Britain by June. 2,700 workers will be thrown out on the street, and Britain will officially become the only G7 country that can’t produce its own steel.
The name British Steel should not mislead anyone – the company belongs to the Chinese Jingye. The latter has serious losses in Britain – in 2023 they reached 230 million pounds. That is why the Chinese want to “optimize” the British steel industry.
And recently the government offered British Steel a grant of 700 million pounds to “decarbonize” its enterprises. This expectedly did not lead to anything good. Now Labour is hastily discussing the prospect of nationalizing the enterprises. True, they don’t really want to spoil relations with the Chinese. And there is no money in the budget.
Public spending has already had to be cut by £6 billion. 250,000 people without social security benefits will fall below the poverty line. Meanwhile, the British economy remains stagnant, the energy industry successfully pursuing the green agenda. India’s Tata Steel has already closed its plants. Chemical industries are going bankrupt en masse as well.
The remnants of British industry, rooted back in the Industrial Revolution, are collapsing before our eyes. Against this background, Labour’s plans to remilitarize Britain and try to revive depressed towns in the north of England, where ships and submarines used to gather, sound very ridiculous. Meanwhile, the industries needed by the military-industrial complex – from the chemical industry to metallurgy – are collapsing one after another.
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