00:00Well, look, you know, the steel industry in Britain has been destroyed.
00:04Many years ago, the market was flooded with Chinese imports,
00:08almost deliberately, as if it was to sort of kill European production.
00:12But in the last few years, the energy prices have made it almost impossible
00:15for us to be a primary steel producer.
00:17We're just hanging on in Scunthorpe.
00:20And look, we're going to invest in a sovereign wealth fund.
00:23It can't be a charity.
00:24It's not there to prop up lame ducks.
00:26It is there to look for business opportunities.
00:27So it can look at many, many different things.
00:30As I say, this is economics, but with a strong degree of national interest.
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