British Steel could collapse by Wednesday. The government should: 1) Nationalise British Steel to save the thousands of jobs which are under risk 2) Impose tariffs on foreign steel 3) Use British steel for infrastructurehttps://twitter.com/SkyNewsBreak/status/1130607701233426433 …
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What about the social losses caused by closure: to the local economy, the costs of mental and physical health consequences, poverty, crime, etc, etc? Seeing this only as a question of British Steel's accounts is a ridiculously narrow viewpoint.
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The difficulty with this approach is (as it often is) where to stop? If it can’t turn a profit, then putting money into it ultimately gets you nowhere. As a country we can’t afford to nationalise every industry that can’t make money, even if them failing has huge social costs.
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