The UK is currently in the throes of nationalising British Steel in the public interest. Established as a State corporation in 1967, British Steel was sold off in 1988, passing through a number of different owners – Dutch, Indian and Chinese – only to now face closure. With the steel sector vital for construction and infrastructure, the UK Government was worried that the loss of domestic steel production and an increasing reliance on foreign imports would weaken national security.
With threats to major assets and resources recognised as crucial triggers for Governments to introduce legislative safeguards in the public interest, surely it’s time the Coalition took action to protect New Zealand from the insatiable demands of tribal leaders and the corporate empires they now control.
