British Steel Taken Into Public Ownership on July 16

British Steel was taken into public ownership on the morning of July 16, GB News reported. Reform Business Spokesman Richard Tice said the decision was correct and noted he had called for the move for seven years. He credited the government with listening but said further steps were required.

Tice urged Labour to commit to rebuilding the blast furnaces at the Scunthorpe plant so they can operate for the next 50 years. He stated that Britain is the only G20 nation unable to produce virgin steel and that major investment is needed to change that position. Tice described Business Secretary Peter Kyle as lightweight and mealy-mouthed and an eco zealot.

He said the situation at Port Talbot steelworks has sailed and warned that Tata may build electric arc furnaces there but leave them idle because of electricity prices. Tice called on incoming Prime Minister Andy Burnham to reconsider Labour’s approach to energy and industry. He stated that Net Zero policies are killing jobs and industries while driving up electricity prices.