UK takes control of British Steel under emergency powers (www.bbc.com)
from MicroWave@lemmy.world to world@lemmy.world on 13 Apr 10:39
https://lemmy.world/post/28164182

The UK government is taking control of Chinese-owned British Steel after emergency legislation was rushed through Parliament in a single day.

Business Secretary Jonathan Reynolds told MPs the government’s likely next step would be to nationalise the Scunthorpe plant, which employs 2,700 people.

But he said he was forced to seek emergency powers to prevent owners Jingye shutting down its two blast furnaces, which would have ended primary steel production in the UK.

#world

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Flemmy@lemm.ee on 13 Apr 10:52 next collapse

UK the overseas Europe is still your ally.

huppakee@lemm.ee on 13 Apr 11:14 collapse
SeeMarkFly@lemmy.ml on 13 Apr 11:12 next collapse

Good!

Government is supposed to protect us from stupidity, not BE the stupidity (American here).

evenglow@lemmy.world on 13 Apr 11:15 collapse

This stupidity is because of their previous stupidity. They shut down coal powered furnaces before they had a not coal powered furnace up and running.

NotMyOldRedditName@lemmy.world on 13 Apr 17:11 collapse

What was the not coal powered one supposed to be?

jabjoe@feddit.uk on 14 Apr 07:09 collapse

en.wikipedia.org/wiki/Electric_arc_furnace

magikmw@lemm.ee on 14 Apr 14:53 collapse

You zap the metal until it liquid.

LordOfLocksley@lemmy.world on 13 Apr 11:34 next collapse

Now do the same with water and rail companies

Pipster@lemmy.blahaj.zone on 13 Apr 11:53 collapse

Isn’t that what GBR is already set up for in regards to rail?

LordOfLocksley@lemmy.world on 13 Apr 15:02 collapse

Uk has a weird system. The government owns the tracks and rails, but private companies own “the stock”, aka the physical trains.

I think GBR is the parent company that owns the rail. I could be wrong, but this is what I remember from looking into it a few years back

Pipster@lemmy.blahaj.zone on 13 Apr 17:01 next collapse

I think you are thinking of network rail who owns the infrastructure. GBR came about in 2021 when none of the operating companies were getting any money and so the government basically ran it for them. Basically it is de-facto back in public hands and GBR will take over once each operating company’s contract is up (I think SWR is first). At least that is my understanding of it.

Also the rolling stock wasnt typically owned by the operating companies, they would lease them from the ones who did like Angel trains and Porterbrook.

LordOfLocksley@lemmy.world on 14 Apr 06:32 collapse

Thanks for clarifying

Agent641@lemmy.world on 14 Apr 07:23 next collapse

Australia has an even more complex system. The state owns the land, and leases it to a company that installs tracks on it, they lease the tracks to a railroad operator who maintains and manages the track infra, and then operators own their own rolling stock that run on the track for a fee. One of those operators is the state, which operate some commuter trains (but the rolling stock are owned by another company)

The state govt pays like 4 different companies for the privelige of driving trains upon their own land.

LordOfLocksley@lemmy.world on 14 Apr 11:02 collapse

Jesus

jizzuspuGg@lemmy.cafe on 14 Apr 07:35 next collapse

It used to be like that, yes, but the momentum is swinging back to full renationalisation.

Because even the torries had to realize privatisation was bullshit

CheeseNoodle@lemmy.world on 14 Apr 07:49 collapse

Its a shit system, really it just means the rails are privatly operated but they get to send a huge chunk of the maintenance bill to the taxpayer.

riodoro1@lemmy.world on 14 Apr 09:44 next collapse

Privatize the gains and socialize the losses.

LordOfLocksley@lemmy.world on 14 Apr 10:21 collapse

Privatising the profits, and getting the tax payer to fund the upkeep… name something more Thatcher-esq

Agent641@lemmy.world on 14 Apr 07:19 collapse

Meanwhile, Australia sells Port of Darwin to China for $1.