The Future of Iron and Steel
The two-day debate on the nationalisation of the iron and steel industry threw into even stronger relief than before the utter irresponsibility of the Government in pressing on with an obviously unconsidered plan for the nationalisation of a vital national industry —vital above all to our export trade—which met with remarkable success the immense demands laid on it by the war and is today working with the highest efficiency. Against the impressive case put forward by Sir Andrew Duncan for continuing the present arrangement, under which the Government exercises a considerable measure of control but individual firms are left to develop on the basis of their acquired skill and experience, no argument worth serious consideration was adduced. Every argument of substance, indeed, came from the Opposition side, the Minister of Supply, who opened the debate, never rising above mere debating-points. So far the Government, by a policy which appears to rest far more on academic doctrine than on any practical or convincing reasoning, is in a fair way of doing the maximum of injury to one of the greatest national. industries. This week's resolution, which was of course carried by the usual majority or little less, did no more than welcome the Government's intention to bring in legislation for the nationalisation of the industry. When the legislation is to be introduced is left undeclared. What firms are to be nationalised is left undeclared. What form the nationalisation is to take is left undeclared. The only thing that does seem certain is that many firms will be cut in half, part of their operations being nationalised and part left in their present form. Nothing could be more paralysing than the uncertainty thus created.
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