Part 5/17:

When analyzing the feasibility of supporting the steel industry, the speaker questions the strategic sense of merely subsidizing it. Without significant demand, protecting the sector becomes an act of preservation rather than growth. Historically, industries like shipbuilding and steel manufacturing have thrived during periods of vigorous infrastructure development—something currently lacking in the UK. The shift of navy ship construction to Spain, leveraging Swedish steel, exemplifies how the UK’s industrial base has dwindled due to political and regulatory constraints.