Follow steel rescue and save refinery

BY SEIZING control of British Steel in Linconshire, Labour has shown it understands you cannot stand by and allow foreign companies to close down key industrial assets.

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The intervention stops short of full nationalisation but it means the Government can compel the Chinese firm Jingye to keep the plant operational.

Business Secretary Jonathan Reynolds is quite clear this was a necessary move to protect jobs and Britain's national interest.

He accused Jingye of failing to negotiate in good faith and refusing to purchase sufficient raw material to keep the blast furnaces running, while intending to cancel and refuse to pay for existing orders.

Reading between the lines, it would appear Reynolds believed he had no choice but to step in and halt an egregious act of industrial sabotage.