EconomyEnded 22 Jul
Should the UK government pay compensation to Jingye Group for nationalising British Steel?
The UK government took operational control of British Steel last year after its Chinese owner Jingye Group threatened to close the Scunthorpe blast furnaces, the UK's last site making virgin steel from raw materials. Jingye has now demanded compensation for its investment losses following the nationalisation. The move is intended to protect British jobs and taxpayers' interests.
Sourcewashingtonpost.com
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Well, TBH all depends on agreement signed when selling British Steele to China. If there was no protection involvement then owner can whatever they pleased (that is why it is stupid to sell it to China) then payment is due, if closing blast furnaces was breech of the agreement then no.
A contract is a contract, as they say, and to willingly break a vow towards an investor will put us in a terrible position when it comes to future economic opportunities. Unless there is a legal precedent for punitive actions against the owner, there is no legitimate reason for such behaviour. Trustworthiness is key.