Nationalisation

Generali

Why do people seem to want to nationalise or subsidise Tata Steel but not Austin Reed or BHS?

After all those retailers employ far more people than Tata and provide career jobs to low qualification people that realistically aren't going to get work in the higher income sectors of the economy.

Tata Steel employs about 6,000 people in the UK whereas BHS has 11,000 and Austin Reed 1,100 according to press reports so surely those shops are twice as important to the economy.....?

michaels

GVA?

National Security?

Concentration of impact?

Generali

michaels wrote: »

GVA?

Can't imagine there's much value added by a loss making factory!

michaels wrote: »

National Security?

Indian steel company?

michaels wrote: »

Concentration of impact?

Good point.

michaels

Generali wrote: »

Can't imagine there's much value added by a loss making factory!



Indian steel company?



Good point.

If the Indians are subsidising output to the tune of £1m per day that sounds good for the economy doesn't it?!

Who ever the owner is the supplies are form the UK not via shipping lines subject to submarines and it would probably not be possible for the Indians to switch of supply if their govt had a disagreement with ours

Are steel jobs more highly skilled and higher paid?

Conrad

Generali wrote: »

Why do people seem to want to nationalise or subsidise Tata Steel but not Austin Reed or BHS?

.....?

Steel is viewed as a long term necessity, a public good, of vital importance in time of war, a commodity other manufacturers here may rely upon, something with a future as long as we think in Germanic long term manner. It's not smart to completely rely on other nations to supply such things.


A high street retailer is not on the same at all

CLAPTON

should we always welcome dumping? is it to our overall economic benefit?

michaels

CLAPTON wrote: »

should we always welcome dumping? is it to our overall economic benefit?

Under WTO rules dumping is a justifiable reason to impose temporary trade restrictions.

Obviously it is easier for a single country to take a decision on whether it makes sense to go down that route than for an unwieldy aggregation of 28 who may weel have different priorities (eg no domestic steel then low import prices must be a good thing compared to a struggling domestic industry loaded down with environmental costs and high business rates.....)

kabayiri

Nationalising steel is not much different to any other homage to the past, like the Titanic visitor centre in Belfast.

They could turn Port Talbot into a theme park; I'd pay to have a go at fashioning my own steel drum.

They interviewed workers from the plant. They were all talking about "my father worked here; my father's father etc". I thought I was watching a clip from Lassie come home.

The future in UK could be many things, but it's not bulk steel, and certainly not virgin steel.

I think we are in danger of living in the past.

antrobus

michaels wrote: »

...Concentration of impact?

That one.

Tata closes the Redcar plant. Labour government takes no specific action. Liberal Democrats win Redcar on a big swing.

Conrad

kabayiri wrote: »

The future in UK could be many things, but it's not bulk steel, and certainly not virgin steel.

I think we are in danger of living in the past.

We've long given up industry after industry without a fight - we lead the world in jet planes until about the late 60's, when Tony Ben of all people let it all go - huge mistake.


We just sometimes have to dig-in, invest correctly and fight, we cant export a hair cut.


A prime example of our soft touch ineptitude, we just awarded a boat building contract to S Korea, whereas the French would never do this (on such a scale) - they find ways around EU rules to ensure Frances sources from France.

antrobus

Conrad wrote: »

...A prime example of our soft touch ineptitude, we just awarded a boat building contract to S Korea, whereas the French would never do this (on such a scale) - they find ways around EU rules to ensure Frances sources from France.

Given the comparative performace of the French and UK economies in recent years, I hardly think that France is setting an example that we should follow.