Government nationalises British Steel to ‘secure future of UK steelmaking’
- British Steel has been taken into public ownership, a move confirmed by the government to protect the future of steel production across the UK.
- 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.
- This nationalisation follows the Steel Industry (Nationalisation) Act 2026 receiving royal assent and becoming law.
- A new leadership team has been appointed to stabilise the business and transform it into a “commercially sustainable, low-carbon enterprise”, the Government said.
- Prime Minister Sir Keir Starmer said: “British Steel is part of the fabric of our nation and a cornerstone of Britain’s industrial strength. Today’s decision secures the future of steelmaking in the UK, protects skilled jobs and safeguards a vital national capability.”
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