The British government bankrupted the steel company British Steel after an investor who wanted to take over the company and keep it running didn’t come forward. The government took over operational control of the company last year after the announcement by the current owner, the German company Jingye, that it was considering closing the blast furnace in Scunthorpe (the last furnace in Great Britain that produces primary pmo steel from raw materials). The company supplies the railway, construction, automotive and arms industries. In recent years, it has struggled with high energy costs and a surplus of steel on the world market. In a certain respect, this is a somewhat similar case to the case of Zetor and the Qatari intervention in Volkswagen, which I wrote about in Ranch restarts in the past few days: the development around one factory is not macroeconomically significant, but it is a good illustration of a very macroeconomically significant phenomenon. In the case of British Steel, it is a conflict between a certain economic efficiency (it is not excluded that, from the point of view of now and the expected future profitability, the blast furnaces should really be closed) and other goals, including non-economic ones. One such goal should be security of state: maybe every country should take out some kind of steel or other important production (even through subsidies, in the case of waste production), so that it has somewhere to produce in the event that the import of steel or other important things from elsewhere ceases to be possible (due to a pandemic, commercial disasters, hostility of some allies and business partners, or even wolves, etc.). See, for example, the esk vaha about the privatization of Explosie. The second non-economic goal should be the fight against regional inequalities. The British Minister of Trade cited, among other things, the support of the region depending on its operation among the arguments for the remaining steel mills. See, for example, the consideration of establishing a public higher education institution in the Karlovy Vary region. Michal Skoepa
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