This government just loves giving money away to foreign governments and companies. It is money we cannot afford, money they borrow which adds to taxpayers bills.
This time, as I warned, it is the offer of money to Jingye, the company that owns the blast furnaces ar Scunthorpe. Labour failed to nationalise them but passed legislation taking control of them to stave off closure. The furnaces were losing a fortune partly due to the UK ‘s sky high energy prices .
This meant taxpayers are paying the bills for the operating losses and stocks without making clear it took the assets unencumbered by debts for nothing. The blast furnaces were not worth anything given costs of closure or losses from running them.
The government promised to keep them open. How much will this cost taxpayers? They implied the blast furnaces would be replaced by a steel recycling works. When? How many jobs go when that happens? Will the government break its promises to the steel workers by sacking lots of them before the election? Or will it put taxes up again to pay the huge bills, meaning others lose their jobs as the higher taxes take their toll? Why pay any compensation to the owners when it costs so much to run the plant, saving the owners the closure costs.
March 9, 2026
as the weatherspoons magazine makes clear pubs are charged extra for electricity to cross subsidise what is left of our steel industry. its all the state manipulation that is the problem.
March 9, 2026
Soon we will be the only country not able to produce primary steel. This is of course the plan by the eco nuts in Westminster. The world is a very dangerous place and we are being de hanged at an alarming rate.
Even government funded projects allow steel to be imported especially the new CCS white elephant being built.
You could be forgiven for thinking bankrupting industry was the plan.
March 9, 2026
Today wind is supplying 4gw and solar zero. Gas and nuclear 61%. Yesterday we were Importing 22% of our electricity at £154 per mwh. Milibrain says renewables will give us energy security. The man’s barking.
March 9, 2026
Indeed rigged markets all over the place energy, transport, broadcasting, schools, universities, EV cars, heat pumps, banking, employment, farming, the self employed, healthcare…
March 9, 2026
Interesting to read the Shipman article on the use of UK bases rebellion against Starmer. Mogg has a good videos on it.
The National Security Council a United Kingdom cabinet committee seems to have eight full members five law graduates and three who read PPE or politics. No engineers, no scientist, no people with any military, logistic, weapons, aircraft, tank, missile or managements skills… what could go wrong with Two Tier Keir, Brain of Britain Lammy, John Healey, Doom loop Reeves, Cooper Balls, Lord Hermer , Darren Jones, Mahmood…
March 9, 2026
Jingye …. a Chinese company. Project Kow-Tow is still in operation, as it has been since Cameron/Osborne started it.
Two-Tier will do nothing to upset his Chinese Masters.
March 9, 2026
Seems so.
March 9, 2026
Government spending is misdirected in all areas. Look at the absolute shambles of our military response to Iran with a solitary navy ship not being sent to Cyprus until several weeks after it is needed and yet the MoD employs 57,000 civil servants.
March 9, 2026
Any costs associated with keeping the Scunthorpe blast furnaces operational pale into insignificance, when compared to the £billions and £billions paid out in dividends each year to the foreigner-owned shareholders of the nationalised industries
March 9, 2026
The Ayatollahs and their IRGC have succeeded in closing the Straits of Hormuz to shipping. About 35% of the world’s oil and gas passed through the Straits last year
Never mind the stonking increases in fuel costs at the pumps to be expected as oil hit $100 a barrel last night, those inexplicably still driving ICE cars had better prepare for petrol/diesel rationing
March 9, 2026
This (and much of government spending) is a classic example of how easy it is to spend other people’s money.
Too many of the electorate are subsidised which means that the contributors will always be outvoted or not considered when decisions about their money are taken.
March 9, 2026
Net zero driven energy costs are closing all sorts of industry in the UK. Driven by a zealot who can’t see reality. Until we abandon this nonsense it will continue.
All to save <1% of global Co2. If we achieve that, no one will notice, as China's emissions continue to rise. And of course we now have the added emissions boost of war in the Middle East.
We could soon run out of gas and oil. Yet there's masses of it under the sea and land. But Ed, he say NO!
March 9, 2026
The government that taxes me on dividends and interest charges nothing to wealthy foreigners and corporations.
So much for taxing the rich.
March 9, 2026
Steel is a strategic resource it is unimaginable that the UK could prosper without a reliable source of supply within National control.