Re: British Steel @Scunthorpe
One aspect to what UK Gov. is doing that I don't quite understand is how UK Government has taken over management and not ownership. If I own an asset then I can chose to eg sell that asset. If the Government has reduced the value of that asset (eg by taking control) then I can sell for the lower price and sue them for the difference. Bit like selling a house with or without "vacant possession". An asset over which the owner has no control and the new owner would have no control must be worth less than an asset over which the owner does have control.
The Chinese owners were proposing to shut down one of the furnaces using a Salamander method which would allow them to be restarted in the future, thus retaining the value of the asset, keeping the other furnace operating. Given the losses seems to me closing down one of the furnaces in a way allowing it to be restarted and keeping the other operating is not the "irresponsible sabotage" many incl. some politicians have been presenting.
My impression is that taking over management and operation will be impacting the value of the asset, it will be using what materials there are on-site, it will be causing further wear on the furnaces (that don't have that much more life anyway given they are now very old), etc. and I assume UK taxpayer is liable for such losses and I assume UK Government must be paying the Chinese owners for use of that asset (rent, lease or something).
Genuine my not understanding not my making a point through a question.
Ian