BRITISH STEEL
NATIONALISED INDUSTRY PLANNED CONSTERNATION IN TRADE LONDON, March 1. A statement by the First Lord of the Admiralty (Mr A. V. Alexander) to a deputation of Sheffield steelworkers that the Government definitely intended to nationalise the steel industry, has caused consternation in the trade, says the Daily Mail’s industrial correspondent. Nationalisation of the iron and steel industry was part of the Labour Party’s election programme and when the election results became known, a £120,000,000 plan for modernisation of the 'whole industry was temporarily put into cold storage. Later, the industry generally understood that iron and steel had been removed from the Government’s nationalisation list and preparations were made for an even bigger modernisation scheme — recently estimated to cost £170,000,000.
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Greymouth Evening Star, 2 March 1946, Page 5
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121BRITISH STEEL Greymouth Evening Star, 2 March 1946, Page 5
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