Iron and Steel Holding and Rationalization Agency
The Iron and Steel Holding and Rationalization Agency had an existing 1953-1967 state holding company in the United Kingdom , the business object of 1951, the re-privatization of the Labor -Regierung of Prime Minister Clement Attlee in 1951 nationalized and since then in the Iron and Steel Corporation of Great Britain combined iron - and steel industry was.
After the Conservative Party won a majority in the House of Commons in the October 1951 general election and took over government under Winston Churchill , the nationalization of the steel industry was reversed. On the basis of the "Iron and Steel Act of 1953", the Iron and Steel Holding and Rationalization Agency was formed, which was to re-privatize the companies that had only been nationalized two years earlier. The Iron and Steel Corporation of Great Britain lost its raison d'etre and was liquidated on August 13, 1953.
Of the 62 companies taken over by the Agency in 1953, 12 were still state-owned at the end of September 1958, with a total value of £ 89 million. In 1963 Richard Thomas and Baldwins, with 20 subsidiaries and a total of 25,000 workers and employees, was the only remaining state-owned company in the steel industry. Until 1967, there was no interested party for its privatization.
The Iron and Steel Holding and Rationalization Agency was dissolved in 1967 when the Labor government under Harold Wilson nationalized the steel industry again and on July 28, 1967 based on the "Iron and Steel Act of 1967" passed on March 22, 1967 14 largest companies with together around 90 percent of the British steel production and 268,500 workers and employees under the roof of the newly formed British Steel Corporation (BSC). Richard Thomas and Baldwins, which had remained in state ownership since 1951, was also absorbed into the BSC.
Footnotes
- ↑ Richard Thomas and Baldwins, at Grace's Guide to British Industrial History
- ^ British Steel, at Grace's Guide to British Industrial History