Thirty years after privatisation, a big chunk of Britain’s steel sector is going bust. The UK’s scope to offer support is less hopeless than it might appear, but the government would need to be convinced the industry is strategic and sustainable. Neither is obviously the case.
The state has been stealthily reducing its role in industry by allowing private players to gain market share. There's appetite for a more aggressive approach. If national carrier Air India can be sold, look for banks, energy and other assets to follow if Modi wins a second term. This is a Breakingviews prediction for 2018. To see more of our predictions, click here.