British Steel sale threatens national security

British Steel sale threatens national security

In a saga that has dragged on for months, the government is now planning to quietly offload British Steel to a private buyer, sweetened by the promise of hundreds of millions of pounds worth of public subsidies. With four out of five UK steelmakers in foreign ownership, the likelihood of a British private buyer is minimal. None of the privately-owned steelmakers are performing well, yet strategic businesses continue to be transferred to overseas…