Britain's Parliament passed an emergency bill on Saturday, April 12th, to keep the factories owned by China Shougang Corporation Limited operating. According to Agence France-Presse (AFP), the British government subsequently announced that it would take over British Steel and did not rule out nationalizing it.
The factory of British Steel located in Scunthorpe, northern England, is in dire straits and faces the imminent threat of closure. British Prime Minister Keir Starmer stated that his government had intervened through legislation to "save" this company.
In an extraordinary weekend meeting, the British Parliament unanimously approved the operation of the Scunthorpe plant of British Steel. This factory employs thousands of workers and is the last one in Britain capable of producing raw steel, providing critical steel for industries such as construction and rail transportation in the UK.
Given the decline of Britain's once robust steel industry and the importance of the steel sector, the British government views the potential closure of Scunthorpe's two furnaces as a risk to the country's long-term economic security.
According to British media reports, after the emergency bill was passed late Saturday evening, officials were prepared to take over the company.
A government official noted that nationalizing British Steel could be the next step, and Prime Minister Starmer insisted that "all options will be considered to ensure the future of the steel industry."
Protests had previously erupted at the Scunthorpe plant, with reports indicating that workers prevented senior executives from China Shougang Group from entering key areas of the factory on Saturday morning.
According to The Times of Britain, workers at British Steel chased away a "Chinese high-level delegation" attempting to enter critical areas of the factory.
Le Parlement britannique réuni en session extraordinaire ce samedi 12 avril pour la prise de contrôle de l'aciérie British Steel. © PRU / AFP
Meanwhile, Reuters reported that the factory in Scunthorpe employed 3,500 people. Due to the failure of reaching a financing agreement with the British government regarding the transition to more environmentally friendly steel production methods, the future of the factory became a focal point.
The two houses of the British Parliament approved this bill after temporarily reconvening during the Easter recess, authorizing Business Secretary Jonathan Reynolds to command the employees and operations of British Steel and order raw materials to ensure continuous production activities in the Scunthorpe area.
Reuters also quoted Reynolds as saying that full nationalization of British Steel is an option under consideration.
Original source: https://www.toutiao.com/article/7493041428323435047/
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