About this episode
Read the February 2026 issue of our industrial matters free sheet as a pdf: https://s3.eu-west-2.amazonaws.com/s3.cpgb-ml.org/TheSpark004.pdf
With farcical brazenness, a Dubai-based asset stripper has suggested it might buy the remnants of Liberty Steel with help from the UK’s National Wealth Fund.
Despite weasel words from politicians of all stripes about ‘saving jobs’ and ‘saving steel’, the truth is that the fate of this vital sector is in the hands of another government committed to carrying forward the ruling class’s long-term deindustrialisation agenda. Manufacturing in Britain is simply not as profitable as manufacturing abroad, and has not been for well over a century. The reality of capitalism in its senile, imperialist phase is that the ruling class finds it far more profitable to fight wars aimed at ensuring access to cheap labour in other countries than to invest in more expensive works and labour here at home – even in these days of minimum wages and neutered trade unions.
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