Nationalization by Stealth The UK's Conservative government has admitted that British Steel cannot be allowed to falter without state intervention, a tacit acknowledgment of its own failure to manage the country's economic interests.
The decision to take the firm into public ownership is not just about saving thousands of jobs in Scunthorpe.
In 1988, Margaret Thatcher's government sold off British Steel as part of a broader effort to privatize key sectors and introduce market led reforms.