1 00:00:00,040 --> 00:00:04,120 Speaker 1: Gavin Gray's our UK correspondent, given Good Evening, either, what 2 00:00:04,160 --> 00:00:06,360 Speaker 1: does this talk of nationalizing British steel. 3 00:00:08,039 --> 00:00:11,280 Speaker 2: Well, we now know, of course that steel industries around 4 00:00:11,280 --> 00:00:14,480 Speaker 2: the world are those that aren't particularly booming are going 5 00:00:14,560 --> 00:00:16,919 Speaker 2: to struggle in this trade war. The UK is certainly 6 00:00:16,960 --> 00:00:20,360 Speaker 2: amongst those. British Steel is actually owned by a Chinese 7 00:00:20,440 --> 00:00:23,760 Speaker 2: company here in the UK, and it was reported about 8 00:00:23,760 --> 00:00:26,240 Speaker 2: a week or so ago that the Chinese had stopped 9 00:00:26,400 --> 00:00:30,319 Speaker 2: importing the necessary ingredients, the raw materials to keep this 10 00:00:30,400 --> 00:00:33,159 Speaker 2: blast furnace going in scun Thought, which is to the 11 00:00:33,200 --> 00:00:36,000 Speaker 2: east of England. In other words, if it runs out 12 00:00:36,040 --> 00:00:39,080 Speaker 2: of raw material within days, which is what's being reported, 13 00:00:39,320 --> 00:00:42,159 Speaker 2: the plant would simply shut down. And of course it 14 00:00:42,240 --> 00:00:46,239 Speaker 2: faces strong economic headwinds with those tariffs as well. So 15 00:00:46,640 --> 00:00:49,560 Speaker 2: the government here saying, look, if that is going to happen, 16 00:00:49,680 --> 00:00:52,680 Speaker 2: it was telling workers and unions we're going to step in, 17 00:00:52,840 --> 00:00:58,080 Speaker 2: and they are therefore considering nationalizing it. And it has 18 00:00:58,160 --> 00:01:01,280 Speaker 2: two blast furnaces in scun for British Steel the company, 19 00:01:01,480 --> 00:01:04,520 Speaker 2: and there are fears that without government support, twenty seven 20 00:01:04,560 --> 00:01:07,520 Speaker 2: hundred jobs could go. They've been with this company, jing 21 00:01:07,640 --> 00:01:10,959 Speaker 2: Ye in China since twenty twenty and jing Y says 22 00:01:10,959 --> 00:01:13,639 Speaker 2: it's invested roughly two and a half billion New Zealand 23 00:01:13,680 --> 00:01:17,640 Speaker 2: dollars into British steel to maintain operations, but is suffering 24 00:01:17,720 --> 00:01:22,280 Speaker 2: losses of one and a half billion a day and 25 00:01:22,319 --> 00:01:26,640 Speaker 2: so substantial losses or seven hundred thousand pounds a day 26 00:01:26,959 --> 00:01:29,800 Speaker 2: is the loss, so it is a very very substantial fund. 27 00:01:29,840 --> 00:01:33,039 Speaker 2: The government has twice offered five hundred million pounds to 28 00:01:33,920 --> 00:01:38,640 Speaker 2: support a switch from blast furnaces to an electric type 29 00:01:38,680 --> 00:01:42,280 Speaker 2: of furnace, more environmentally friendly, and twice that's been rejected. 30 00:01:42,360 --> 00:01:44,640 Speaker 2: So yeah, very very fragile state of affairs in the 31 00:01:44,680 --> 00:01:45,480 Speaker 2: steel industry. 32 00:01:45,640 --> 00:01:48,400 Speaker 1: Interesting given obviously the trade wills happening and there's a 33 00:01:48,480 --> 00:01:52,960 Speaker 1: campaign to buy British Interesting that Keirstein is saying now 34 00:01:52,960 --> 00:01:53,920 Speaker 1: I don't want a piece of that. 35 00:01:55,160 --> 00:01:57,280 Speaker 2: Yeah, very odd. I don't know if that's because it 36 00:01:57,360 --> 00:02:01,200 Speaker 2: was devised by the Liberal Democrat that's another party within 37 00:02:01,240 --> 00:02:04,080 Speaker 2: parliament or not, but yeah, it was very interesting that 38 00:02:04,560 --> 00:02:08,800 Speaker 2: they say a Kirstarmer spokesperson saying we're an open trading nation, 39 00:02:09,200 --> 00:02:11,560 Speaker 2: so we're not going to tell people, quote where to 40 00:02:11,560 --> 00:02:15,200 Speaker 2: buy their stuff. Well, all the Liberal Democrats were suggesting 41 00:02:15,400 --> 00:02:18,280 Speaker 2: is a promotional campaign to encourage the public to see 42 00:02:18,320 --> 00:02:21,520 Speaker 2: the British stickers on goods and buy those instead of 43 00:02:21,560 --> 00:02:25,280 Speaker 2: any alternatives. It seems a relatively harmless thing to be 44 00:02:25,639 --> 00:02:28,400 Speaker 2: asking and a good thing to be doing, but it 45 00:02:28,440 --> 00:02:31,400 Speaker 2: would appear the government's not going that way. What I 46 00:02:31,400 --> 00:02:35,200 Speaker 2: think we are perhaps going to see is easier for 47 00:02:35,440 --> 00:02:40,640 Speaker 2: small and medium sized British businesses to bid for government contracts. 48 00:02:40,760 --> 00:02:43,400 Speaker 2: And that's already a bit of legislation in there from 49 00:02:43,440 --> 00:02:47,280 Speaker 2: the previous government, but apparently it's still very very difficult. 50 00:02:47,280 --> 00:02:50,240 Speaker 2: Well I know that it's extremely lengthy and difficult if 51 00:02:50,240 --> 00:02:53,240 Speaker 2: you're a very very small business. And so they are 52 00:02:53,280 --> 00:02:55,480 Speaker 2: going to try and make this easier for British businesses 53 00:02:55,520 --> 00:02:58,519 Speaker 2: to bid for British work that is of public sector 54 00:02:58,639 --> 00:03:00,680 Speaker 2: nature stuff. 55 00:03:00,919 --> 00:03:03,240 Speaker 1: At least with all the doom and gloom in the world, 56 00:03:03,280 --> 00:03:05,240 Speaker 1: you've got some good news for us. You're getting the 57 00:03:05,360 --> 00:03:09,280 Speaker 1: UK getting a new universal theme. Pat where's it going, Gevin? 58 00:03:09,720 --> 00:03:14,120 Speaker 2: Yeah, in Bedford, which is about seventy eighty kilometers north 59 00:03:14,280 --> 00:03:17,200 Speaker 2: of London. It's on the site of a former brickworks 60 00:03:17,600 --> 00:03:21,160 Speaker 2: expected to generate twenty eight thousand jobs and open in 61 00:03:21,280 --> 00:03:24,680 Speaker 2: twenty thirty one. So it's a huge complex. It could 62 00:03:24,720 --> 00:03:27,120 Speaker 2: attract they reckon eight and a half million visitors in 63 00:03:27,160 --> 00:03:30,280 Speaker 2: its first year and generate one hundred billion New Zealand 64 00:03:30,320 --> 00:03:34,520 Speaker 2: dollars for the UK economy by twenty fifty five. Universal 65 00:03:34,560 --> 00:03:37,720 Speaker 2: Destinations and Experience say eighty percent of those employed in 66 00:03:37,760 --> 00:03:41,360 Speaker 2: the new jobs will be from the county and surrounding areas. 67 00:03:41,480 --> 00:03:45,320 Speaker 2: Universal of course has produced films like Minions and Wicked, 68 00:03:45,920 --> 00:03:47,880 Speaker 2: and it has a long list of theme parks. Of course, 69 00:03:47,920 --> 00:03:51,200 Speaker 2: the most famous is in Los Angeles and Orlando in 70 00:03:51,240 --> 00:03:55,720 Speaker 2: the US, but also in Asaka, Japan, in Singapore and Beijing. 71 00:03:55,880 --> 00:04:00,000 Speaker 2: So this would be the first Universal branded destination in Europe, 72 00:04:00,400 --> 00:04:02,720 Speaker 2: and I think this government is considering it's quite a 73 00:04:02,720 --> 00:04:05,520 Speaker 2: big win for them. Right as to all those promises 74 00:04:05,560 --> 00:04:08,640 Speaker 2: of jobs and numbers and figures, well, of course all 75 00:04:08,680 --> 00:04:11,000 Speaker 2: these things are projections, but certainly it's going to be 76 00:04:11,160 --> 00:04:14,120 Speaker 2: a very big provider just in its construction phase at 77 00:04:14,160 --> 00:04:15,680 Speaker 2: the very least very cool. 78 00:04:15,760 --> 00:04:17,920 Speaker 1: I'll definitely be hitting along there, Gavin. Thank you for that, 79 00:04:18,040 --> 00:04:20,120 Speaker 1: Kevin Gray, a UK correspondent. 80 00:04:20,680 --> 00:04:23,840 Speaker 2: For more from hither Duplessy Allen Drive listen live to 81 00:04:23,960 --> 00:04:27,000 Speaker 2: news talks. It'd be from four pm weekdays, or follow 82 00:04:27,040 --> 00:04:28,800 Speaker 2: the podcast on iHeartRadio