British Steel - £1.5Bn - Good value?

[motorbiking]

Current Owner wants £1Bn compensation for the takeover. Costs to date are around £500M. It was losing £700k per day.

I wonder if something new could have been built for the total cost its going to take to keep this running and modernise it.

The idea that we have critical national infrastructure is solid, but I am not sure we should compensate companies who's plans were to close it down.

 

[King Billy]

I am not sure we should compensate companies who's plans were to close it down.

Were they planning to close it down?

 

[motorbiking]

According to the news.

 

[King Billy]

According to the news.

Not the news I've seen. Do you have a link to your news source?

 

[ellal]

The idea that we have critical national infrastructure is solid, but I am not sure we should compensate companies who's plans were to close it down.

Security in commodities is becoming ever more vital however you wish to define them...

But investment in the UK from abroad would be hit if the perception was that the UK government (of whatever colour) would not follow accepted rules of re-nationalisation.

As much as that p*sses me off !

Because it is another case of 'privatise the profits, nationalise the debts'...

But how much would we save in the long run?

Imagine if the UK had decided not to rely on China/Fraudsters for PPE and built up UK based manufacturing in foresight, albeit at a higher cost...

Not so much of that £10bn lost would have gone down the drain which would make £1bn in this instance seem like a good investment

 

[fillyboy]

Not the news I've seen. Do you have a link to your news source?

British Gov said the Chinese owner was planning to switch off the furnaces which would amount to a closure.

British Steel nationalisation plans announced by Starmer

The steelworks has been under government control for almost a year, but leglistation to nationalise it will be put forward this week.

www.bbc.co.uk

 

[King Billy]

British Gov said the Chinese owner was planning to switch off the furnaces which would amount to a closure.

British Steel nationalisation plans announced by Starmer

The steelworks has been under government control for almost a year, but leglistation to nationalise it will be put forward this week.

www.bbc.co.uk

Instead of exporting 80% of scrap steel, the UK could use EAFs and import the raw pig iron from abroad, needed in Blast furnaces?
They can do it, why can't we?

 

[morqthana]

But investment in the UK from abroad would be hit if the perception was that the UK government (of whatever colour) would not follow accepted rules of re-nationalisation.

How much of that "investment", so far, has been beneficial to the UK?

 

[fillyboy]

Instead of exporting 80% of scrap steel, the UK could use EAFs and import the raw pig iron from abroad, needed in Blast furnaces?
They can do it, why can't we?

According to the Govt.

The public interest test required for the government to take full ownership of British Steel will consider factors such as national security, maintaining critical national infrastructure and supporting the economy.

 

[King Billy]

According to the Govt.

The public interest test required for the government to take full ownership of British Steel will consider factors such as national security, maintaining critical national infrastructure and supporting the economy.

That doesn't address my suggestion, nor my question.

 

[fillyboy]

That doesn't address my suggestion, nor my question.

I didn't think for a moment it would. So.

 

[King Billy]

I didn't think for a moment it would. So.

OK, It was in response to my comment.
You quoted me.

 

[morqthana]

I didn't think for a moment it would. So.

So KB asked a question, and you replied to it with something that you didn't think for a moment was a proper answer.

Do you think that's the way that intelligent and civil discussing and debating should be done?

 

[fillyboy]

So KB asked a question, and you replied to it with something that you didn't think for a moment was a proper answer.

Do you think that's the way that intelligent and civil discussing and debating should be done?

It was a proper answer and addressed the question. I knew billy wouldn't accept it, he never has and never will. It's the nature of the beast.

 

[Mottie]

Because it is another case of 'privatise the profits, nationalise the debts'...

Oh shut up Woolfie.