Nationalising British Steel must be ‘last resort’ – Badenoch
Nationalising British Steel must be a “last resort”, Conservative Party leader Kemi Badenoch has said as the Government reiterated it was keeping “all options on the table” after a meeting to reassure the industry.
British Steel has launched a consultation on the proposed closure of blast furnaces at its Scunthorpe plant and the Government has been talking to the company’s Chinese owner Jingye.
There have been calls for temporary nationalisation amid fears of thousands of job losses.
With our steel plan we’re placing it at the heart of our growth mission, and we’ll keep all options on the table to help steel in the UK thrive
Industry minister Sarah Jones hosted a meeting of the Steel Council attended by the chief executives of Tata, Liberty and British Steel as well as trade union leaders and the trade association UK Steel.
Ms Jones said: “We know this is a concerning time for our steel industry in the face of global challenges.
“That’s why we’re working in lockstep with industry to drive forward our steel plan so it can help the sector secure jobs, deliver growth and power the modern economy.
“This Government will always stand up for UK steelmaking, and where others may talk tough, we are acting, with money ready to go to back up British industry.
“With our steel plan we’re placing it at the heart of our growth mission, and we’ll keep all options on the table to help steel in the UK thrive and deliver on our Plan for Change.”
Nationalisation has got to be a last resort
Mrs Badenoch said the Scunthorpe steel plant was “in peril” because of Labour’s “wrong choices”.
“Nationalisation has got to be a last resort,” she told reporters during a visit to Chemring Countermeasures in Salisbury.
She added: “We need steel production in this country.
“It is important for national resilience.
“But as I said, whether it’s with the jobs tax, what they’ve been doing all around the economy, energy costs in particular, that’s why we’re not having steel companies wanting to produce it.
“Our energy costs are too high and Labour is making those costs even higher.”
