The government has been dithering for years, Brexit remains uncertain, and its owners a worry
Choose your villain in the British Steel crisis. The government has dithered for years about the future of steelmaking in the UK and has stumbled from one crisis to another. Or blame the unresolved Brexit pantomime in Westminster. Or point to the company’s private equity owner, Greybull Capital, whose past calamities include Monarch Airlines and electricals chain Comet.
There’s truth in all versions. Let’s start with the government since ministers offered a bizarre spectacle on Monday when they unveiled their shiny new “steel charter”, a pledge to increase the amount of UK steel used in national infrastructure projects. The aim is worthy, many would agree, but the fanfare seemed to belong to a parallel universe. What use is a charter for the future if the immediate threat is to a large plant in Scunthorpe and 5,000 jobs?
Source: The Guardian