Government nationalises British Steel to ‘secure future of UK steelmaking’
The announcement follows the Steel Industry Act 2026 receiving royal assent and becoming law
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Summary
The announcement follows the Steel Industry (Nationalisation) Act 2026 receiving royal assent and becoming law. Prime Minister Sir Keir Starmer said: 'British Steel is part of the fabric of our nation and a cornerstone of Britain's industrial strength. The Department for Business and Trade said the decision is essential to maintain steel manufacturing at British Steel’s Scunthorpe site in Lincolnshire , safeguarding jobs and crucial UK supply chains.
Furthermore, British Steel interim chief executive Allan Bell said: 'This is a momentous day for British Steel, and everyone connected with our business – our dedicated employees, our valued customers and suppliers, and the tens of thousands of people in our supply chains and local communities. Government seizes control of British Steel to 'protect UK steelmaking' at Scunthorpe plant that costs taxpayer £1.3m a day.
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The announcement follows the Steel Industry (Nationalisation) Act 2026 receiving royal assent and becoming law.
reliability moderate2/2 sourcesPrime Minister Sir Keir Starmer said: 'British Steel is part of the fabric of our nation and a cornerstone of Britain's industrial strength.
reliability moderate2/2 sourcesThe Department for Business and Trade said the decision is essential to maintain steel manufacturing at British Steel’s Scunthorpe site in Lincolnshire , safeguarding jobs and crucial UK supply chains.
reliability moderate2/2 sources
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British Steel interim chief executive Allan Bell said: 'This is a momentous day for British Steel, and everyone connected with our business – our dedicated employees, our valued customers and suppliers, and the tens of thousands of people in our supply chains and local communities.
according to Daily MailGovernment seizes control of British Steel to 'protect UK steelmaking' at Scunthorpe plant that costs taxpayer £1.3m a day.
according to Daily Mail
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