Can anyone save the UK steel industry?

There were wild responses to my X questions on steel yesterday. Most critics were wedded to the idea that nationalising steel will provide the answer and will save the Scunthorpe blast furnaces and jobs. I fear they will be badly let down. They will send huge bills to taxpayers before closing the furnaces down anyway.

Some queried my aims for steel. I would like to keep steel making in the UK, including some blast furnace steel as well as recycled. To do this requires many changes. I have consistently called for  a proper business plan , for ending penal taxes and charges on energy , for a deal with the previous Chinese owners of Scunthorpe and for well negotiated  purchase  contracts for public steel for rail, defence and construction public spending.

The first necessity is to acquire Scunthorpe from its Chinese owners. I suggest buying it for £1 whilst ensuring past debts rest  with the previous  owners. Taxpayers would  take on future liabilities including responsibility  for  jobs and wages.

The second is to change energy taxation and subsidy to get UK industrial prices closer to US and Chinese ones.

The third is to review how long the business can run the Scunthorpe blast furnaces and when they might need major maintenance with a difficult temporary shut down .

The fourth is to develop the work in place on public sector demand for steel and see how the gap between import cost and domestic cost can be bridged.

It is obvious there needs to be some combination  of subsidy and lower tax demands to price this steel back into wider use.  It is also clear our steel industry is being sacrificed on the altar of extreme net zero polices. These are self harming, and result in more CO 2 worldwide as we close down our industry.