351:
competition, into a manufacturing industry. It has also been seen as significant as it 'sheds light on the policy of nationalisation'. It has been described as being doctrinally inspired. And 'a highly exceptional measure... pushed through
Parliament with great vigour and determination'. It has been seen as ‘nationalisation for clearly ideological reasons’; since the government 'was so persistent with a measure which can fairly be described as in no way popular'. It was argued that the iron and steel industry was progressive and efficient with good labour relations. And that public ownership was necessary to compel the industry to follow a policy in the national interest. Although different to the nationalisation of the coal, transport, electricity and gas industries the method of nationalisation through the acquisition of shares was similar to that used for the Bank of England (1946) and Cable and Wireless Limited (1947).
377:
34:
342:. Only the share capital of the companies was acquired, not the undertakings themselves. The individual companies therefore continued to operate under management Boards appointed by the corporation. The mode of nationalisation was distinct because many iron and steel companies undertook other integrated activities, that could not easily be segregated into their individual functions. For example, the manufacturers of motor vehicles, which undertook steel processing, were excluded. About 2,000 iron and steel companies operated outside the nationalised sector.
215:, to control the price of raw materials, finished products, and steel imports; and to regulate investment, pooling arrangements, and the development of new plant and equipment. Board members were appointed by the Minister of Supply and represented industry employers, workers and consumers. Full nationalisation of the industry, as opposed to government control, had been pledged by the incoming Labour government in 1945; however, this was a controversial issue and was opposed by the iron and steel companies and by the Conservative opposition.
52:
shaping of steel by rolling, and of certain property and rights held by a
Minister of the Crown or Government department; for the licensing of persons engaged in any such activities; for co-ordinating the activities of the Corporation, the National Coal Board and the Area Gas Boards relating to carbonisation; and for purposes connected with the matters aforesaid.
162:
which acquired certain iron and steel companies. In a departure from earlier nationalisations the
Corporation only acquired the share capital of the companies, not the undertakings themselves. The individual companies continued to operate under management Boards appointed by the corporation. The Iron
481:
which began operating on 13 July 1953. The Board had a duty 'to exercise a general supervision over the iron and steel industry... with a view to promoting the efficient, economic and adequate supply, under competitive conditions, of iron and steel products'. The work of the Board and the Agency was
394:
An Act to repeal the Iron and Steel Act, 1949, and to dissolve the Iron and Steel
Corporation of Great Britain; to establish an Iron and Steel Board for the supervision of the iron and steel industry and to define the functions of that Board, and to make other provision as to the said industry; to
350:
The 1949 act has been seen as both the culmination of the Labour government's nationalisation policy and as a major departure from that policy. It completed the list of major industrial infrastructures to be brought into state control and introduced collective ownership, and a certain amount of
51:
An Act to provide for the establishment of an Iron and Steel
Corporation of Great Britain and for defining their functions, and for the transfer to that Corporation of the securities of certain companies engaged in the working, getting and smelting of iron ore, the production of steel, and the
395:
provide for the return of iron and steel undertakings to private ownership and for the disposal of the property, rights, liabilities and obligations of the said
Corporation; and for purposes connected with the matters aforesaid.
209:, published a report on the future of the industry. Franks recommended a radical modernisation with the aim of reducing prices to keep British steel competitive on the world market. In 1946 the Labour government established an
461:
Section 1 of the 1953 act repealed the Iron and Steel Act 1949 and dissolved the Iron and Steel
Corporation. It transferred the corporation's properties, rights, liabilities and obligations to a newly established
442:
Nationalisation of iron and steel production had been strongly opposed by the
Conservative opposition. The act went into effect in February 1951, meaning that its implementation would occur during the
294:
Clauses 39–46: Acquisition of land; terms and conditions of employment; making of
Regulations; prohibition of iron ore import; liabilities and penalties; interpretation; application to Northern Ireland.
323:
was established under the provisions of the act with effect from
October 1950. It brought 94 iron and steel companies into public ownership with effect from vesting day, the 15 February 1951.
262:
Clauses 12–22: Acquisition notices; securities; representation of shareholders; rights of transferred companies to continue to use assets; efficient operation; limitation of dividends,
163:
and Steel Act 1949 was one of a number of acts promulgated by the post-war Labour government to nationalise elements of the UK's industrial infrastructure; other acts include the
447:. On returning to power in October 1951 they planned to denationalise and return the industry to the private sector. This policy was enacted through the Iron and Steel Act 1953.
330:. This had the duty ‘of making representations to the Minister on such matters affecting the interests of the consumers as the Council think necessary’.
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to represent companies in the industry, and which fixed prices, production quotas, levies, and closed redundant works under Government supervision.
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Clauses 5–8: General directions; framing of programmes; annual reports and accounts; consultation on the acquisition and disposing of undertakings,
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498:
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339:
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The 1953 act remained in force until the Labour government re-nationalised the iron and steel industry in 1967 through the
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During the passage of the Bill through Parliament the proposed Iron and Steel Board became the Iron and Steel Corporation.
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Clauses 26–35: Borrowing and raising money; creating and issuing of stock; reserve fund; accounts and annual statement,
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Clauses 9–11: Undertakings to register with the Minister; calling for information; requirement to have a license,
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158:, or bought into state control, elements of the iron and steel industry in Great Britain. It established an
541:"Records of the Iron and Steel Corporation of Great Britain, the Iron and Steel Board, and related bodies"
466:. The agency gradually sold the nationalised companies back into the private sector with the exception of
467:
234:
Clauses 1–4: Establishment of the National Iron and Steel Board; its constitution and appointment by the
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566:"Cabinet papers Catalogue Reference: CAB/129/18 Image Reference:0023 Heads of Iron and Steel Bill"
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486:
123:
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46:
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The model of nationalisation enacted by the 1949 act was different to earlier ones, such as
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717:
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Waschke, Hildegard (1977). "The development and impact of nationalisation in Britain".
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238:; its duties; permitted activities; power to establish and liquidate its companies.
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The involvement of the UK government in the iron and steel industry began in the
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Clauses 36–38: Establishment of tribunal; remuneration; enforcement Orders,
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which remained in public ownership until it was absorbed into the
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737:"The Nationalization of Basic Industries in Great Britain"
251:
Registration and Licensing of Iron and Steel Undertakings
198:
The iron and steel industry came under the control of the
354:
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as first drafted comprised 46 clauses under 8 headings.
620:
Langley, S. J. (1950). "The Iron and Steel Act, 1949".
205:
In 1945 the Permanent Secretary of the Ministry, Sir
316:. c. 72) received royal assent on 24 November 1949.
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Clauses 23–25: Compensation for transferred assets,
175:(railways and long-distance road haulage); and the
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592:Hansard HC Debate 27 April 1949 vol 464 cc237-85
243:Powers of the Minister in relation to the Board
767:. London: Macmillan Education UK. p. 133.
458:. c. 15) received royal assent on 14 May 1953.
464:Iron and Steel Holding and Realisation Agency
606:Iron and Steel Corporation of Great Britain
499:Iron and Steel Corporation of Great Britain
321:Iron and Steel Corporation of Great Britain
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800:"Cabinet papers Iron and Steel Bill 1952"
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259:Acquisition of Undertakings by the Board
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834:United Kingdom Acts of Parliament 1949
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355:Government policy and later enactments
340:Coal Industry Nationalisation Act 1946
165:Coal Industry Nationalisation Act 1946
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482:thus parallel and complementary.
328:Iron and Steel Consumers' Council
326:The 1949 Act also established an
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382:Parliament of the United Kingdom
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152:Parliament of the United Kingdom
39:Parliament of the United Kingdom
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231:National Iron and Steel Board
191:with the establishment of the
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445:1951 general election season
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660:Kelf-Cohen, Reuben (1973).
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468:Richard Thomas and Baldwins
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361:United Kingdom legislation
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160:Iron and Steel Corporation
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452:Iron and Steel Act 1953
436:Iron and Steel Act 1949
365:Iron and Steel Act 1953
346:Observations on the act
310:Iron and Steel Act 1949
140:Iron and Steel Act 1949
124:Iron and Steel Act 1953
22:Iron and Steel Act 1949
735:Schmitthoff, Clive M.
724:– via Econstore.
314:12, 13 & 14 Geo. 6
219:Provisions of the Bill
144:12, 13 & 14 Geo. 6
63:12, 13 & 14 Geo. 6
807:The National Archives
664:. London: Macmillan.
573:The National Archives
283:Arbitration Tribunal
275:Financial Provisions
479:Iron and Steel Board
334:Operation of the act
212:Iron and Steel Board
169:Electricity Act 1947
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225:Iron and Steel Bill
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704:10.1007/BF02928713
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267:Terms of Purchase
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173:Transport Act 1947
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545:National Archives
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423:14 May 1953
119:Repealed by
108:14 May 1953
510:References
390:Long title
183:Background
47:Long title
812:19 August
746:19 August
578:19 August
550:19 August
474:in 1967.
828:Category
741:duke.edu
722:54703725
493:See also
401:Citation
105:Repealed
58:Citation
642:2227057
408:. c. 15
150:of the
65:. c. 72
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167:; the
154:which
803:(PDF)
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413:Dates
80:Dates
814:2020
777:ISBN
748:2020
666:ISBN
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