British Steel first appeared in 1967 which was formed out of the nationalised British Steel Corporation (BSC). It went on to be privatised and launched as British Steel plc in 1988. It was even big enough to be part of the FTSE 100 Index. In 1999 the company merged with Koninklijke Hoogovens to form Corus Group and even then, many of us thought it was a mistake and would start the end of the steel industry in Britain. It’s easy with hindsight, but it looks like that was right.
And it’s why we need British Steel again. Quality, traceable, home manufactured fabulous, british steel. It may not have been a glamorous brand, but it was one we knew and understood.
I shared a tweet the other day by a man called Dick who pointed out the following “The argument for Trident is that it costs £120bn and saves 600 jobs. The argument against Steel is that it costs £1.5bn and saves 15,000 jobs”
There is a new standard in Europe called BS/EN 1090 and what it says is that EVERYTHING, right down to welding rods has to be traceable back to source. No traceability, no CE Mark. This is currently impossible with imported steel as there is no way of knowing where it came from. If you don’t know how it was made, where it was made or what it was made with, then how can you guarantee it is safe? For an insurer, how can they assess that risk?
So for me, bringing back British Steel would be a huge step forward.
So maybe this is just too obvious to be useful but if we are about to lose our steel industry and 15,000 jobs anyway, then surely it must be worth investing in this industry again.
We poured billions into our banks to save face more than to save jobs and now it must be time for this support to turn to one of our core industries. Steel.
Even taking the finances alone. 15,000 families will be immediately having to draw benefits for some considerable time. Let’s say an average of three years. Then by my maths that’s at least £1bn million over this period and ongoing devastation to communities that just don’t need more bad news.
If you take Port Talbot as a case, then maybe energy is the issue? This can be solved with the Severn Barrage. Every aluminium producer in the world seems to use Hydro Power to smelt aluminium, so why not clean steel up at the same time and make it go green. That’s a bargain at between £10-34bn – which makes the saving of steel look positively cheap.
British Steel is Britain through and through. It’s literally what our country was built with and by my very simple way of thinking, something our government should not just support but make it a model of how decent targeted intervention can help rebuild Britain from our proud industrial heritage outwards.