Ailbhe Rea: Labour Looks to Nationalize British Steel

The government is “very seriously considering” nationalizing the Chinese-owned British Steel, two sources tell Bloomberg in an exclusive this afternoon, as ministers scramble to save the country’s last steelmaker from closure.

The steelmaking plant has given the Lincolnshire town of Scunthorpe its livelihood and identity for over a century — yet it could close within days, risking thousands of jobs. The potential end of this vital industry in the UK comes just as the government is seeking to reduce our reliance on other countries for critical resources.