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Well exactly. The EU can say, look we want this deal on steel and we'll give you this deal on what we export, and it is a trade agreement on bulk. We'd be left to do this on our own and may or may not be disadvantaged.

Interestingly though, does the EU have greater clout to negotiate their steel price collectively? If we are on our own relying on China's steel prices, could we be held to ransom if we are such a small consumer compared to the other markets?

As you say, short term economic decisions with massive long term consequences.

I think that is a poor analogy. No one is saying that the Port Talbot plant isn't an efficient, hard working, high quality manufacturer of steel. The only measure on Port Talbot is that currently steel from China is cheaper. That might not always be the case, and as others have said, the...

I think there are rules about propping up a private business, but that is different from taking that business into state ownership. I might be wrong... Your final question I agree with you and beorhthelm, is probably the most pertinent one for me too.

Well indeed. Perhaps that is a question. 40% of our energy production still (rightly or wrongly) relies on coal, and yet we import a huge swathe of that from Russia - hardly a stable bedfellow for your energy security. Steel is essential to construction and manufacture. If we were unable to...

20,000 people out of work isn't profitable either. You make an essential point though about profitability - is that the only measure of the importance of an industry or service?

If a buyer cannot be found, is it time to take back a crucial industry? Is this just left wing idealism, or is it actually economic realism? If it goes under, we not only lose 20,000 jobs, but our dependency on importing only increases. Imports are currently cheaper, but will that always be...