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UK passes emergency law to take control of its last major steel factory.
The move is aimed at protecting jobs, defense needs, and industrial autonomy.
Temporary nationalization could lead to long-term reforms in British steel.
In a decisive move to preserve its domestic steel capabilities, the United Kingdom has passed emergency legislation to take control of the country’s last remaining steel factory. The facility, previously owned by a Chinese firm, has faced significant financial distress in recent months, prompting fears over national security and industrial independence.
The UK government stated that the takeover was essential to protect thousands of jobs and to maintain vital infrastructure for defense and construction. The intervention comes amid growing global concerns over foreign ownership of strategic industries, especially in the wake of increasing trade tensions and supply chain disruptions.
This facility was the last fully operational British-owned steel plant and had been struggling with high energy costs, reduced demand, and increased competition from cheaper Chinese imports. The emergency law allows the government to temporarily nationalize the plant to stabilize operations and ensure continued production.
Analysts see this as a bold but necessary step to ensure long-term sustainability of Britain’s steel sector. It may also pave the way for broader reforms or restructuring in the industry.
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