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Net zero, nationalisation, & the mistakes of British Steel – Dan Hannan & Matt Ridley

The government has taken control of British Steel after the plant in Scunthorpe could have shut down. It's Britain's last major steelmaking plant. Emergency legislation was passed over the weekend to bring the steelworks under effective government control. If it does shut down, the UK will the only country in the G7 without capacity to make steel from scratch. How much of a problem is this – and are we facing bigger problems related to energy more generally? Lord Hannan, author and columnist, was one of only two members of the House of Lords to speak against the government's decision. He joins The Spectator's economics editor Michael Simmons to discuss, alongside writer and businessman Matt Ridley. // CHAPTERS 00:00 – Introduction 00:29 – The government steps in to save British Steel 01:07 – The failures of nationalisation 02:20 – Is domestic steel production still vital? 03:06 – Energy prices and red tape crippling industry 04:07 – Net zero ambitions vs economic reality 05:19 – Debunking the myth of dependence on China 07:41 – The politics of pride and protecting steel jobs 09:02 – Letting go of industrial nostalgia 10:27 – Recycling steel and focusing on where value lies #steel #industry #labour // SUBSCRIBE TO THE SPECTATOR Get 12 issues for £12, plus a free £20 John Lewis/Waitrose voucher https://www.spectator.co.uk/tvoffer // FREE PODCASTS FROM THE SPECTATOR Hear more from The Spectator's journalists on their podcasts, covering everything from the politics of the UK, US and China, to religion, literature, lifestyle and more. https://www.spectator.co.uk/podcasts/ // FOLLOW US   / spectator     / officialspectator     / the-spectator     / spectator1828     / thespectatormagazine