Iron and steel is an old industry. As a cyclical and a strategically important industry, it has long been subject to extensive government intervention in most countries, including Britain. When Labour won the general election in 1945, it was already pledged to nationalise several industries, including coal and steel. But steel had a lower priority than coal; the labour movement had not agreed a plan for steel nationalisation, which became the most complex and bitterly contested of the post‐war nationalisations.
MCB UP Ltd
Copyright © 1984, MCB UP Limited