Part 6/9:
As negotiations continue, the stakes are rising, with Jingye leveraging the potential closure of British Steel as a bargaining chip. British Steel has signaled its intent to halt production entirely if adequate financial support is not provided. Such a shutdown would extend beyond the immediate loss of 2,700 jobs; it would signify the collapse of a foundational industry, forcing the UK to import steel—most likely from China—at inflated prices.
This scenario alarms industry critics, including members of Parliament, who argue that losing domestic steel production would catalyze a broader economic decline. The ramifications would ripple through multiple sectors, leading to increased reliance on foreign suppliers and, consequently, a loss of economic sovereignty and security.