2 d. ago Almost £100 million spent on British Steel nationalisation so far, minister says

Jonathan Reynolds said the £94 million spent on the Scunthorpe site is ‘considerably less’ than allowing its collapse.

Economics

3 d. ago Ed Balls and Richard Tice clash as Reform MP fails to answer question 12 times

Former shadow chancellor Ed Balls and Reform UK MP Richard Tice clashed on Good Morning Britain on Wednesday (30 April), after the latter failed repeatedly to give a cost estimate for nationalising British Steel.

Events

2 w. ago Crucial coal will be delivered to British Steel plant in Scunthorpe TODAY as ministers try to avoid full nationalisation

After stepping in to take control of British Steel over the weekend, the Government faced a race against time to get materials such as coking coal and iron ore to the site.

Politics

2 w. ago Labour confident it can keep British Steel furnaces burning after taking control

British Steel is in a race to secure raw materials for its blast furnace and keep operations going

Events

2 w. ago Full nationalisation of British Steel now 'likely' says Business Secretary, as he warns China faces 'high trust bar' to get involved in UK firms

Jonathan Reynolds admitted that while his 'preference' is to find a commercial partner to run the industry, the state could well have to take responsibility.

Events

3 w. ago British Steel shut North East site after Richard Tice's firm threatened rent hike

In recent days the Boston and Skegness MP has vocally called for the government to nationalise British Steel and save the firm's plant in Scunthorpe

Events

3 w. ago Emergency bill to 'save' British Steel that could nationalise Scunthorpe furnace clears Parliament

The Steel Industry (Special Measures) Bill has cleared the House of Lords and will become law once it receives royal assent.

Politics

3 w. ago Parliament approves British Steel bill as sources say owners blocked from entering Scunthorpe plant – live

The Steel Industry (Special Measures) has now passed through the House of Lords and is awaiting royal assentIt’s been a busy morning for Sarah Jones, who is now on BBC Breakfast.Asked whether the government had received any private offers for the company’s Scunthorpe plant, Sarah Jones said:There is not at the moment, to answer your question, a private company that is there willing to invest at this point.When we came into government, there was a deal on the table with Tata Steel in Port Talbot.We negotiated in 10 weeks a much better deal, but there was a private company willing to invest, who are now investing.We are hoping that the company will co-operate with what we are asking them to do, we hope that we will give them a notice and they will continue.If they do not, we will step in. Now the company will be liable for any costs that we incur, and we will seek to get that money back.We have the £2.5 billion fund for steel which we had in our manifesto, that we will use if necessar...

Politics

3 w. ago MPs approve British Steel bill after Chinese owners’ ‘excessive’ demands – live

Bill now proceeds to the House of Lords for debate and passageIt’s been a busy morning for Sarah Jones, who is now on BBC Breakfast.Asked whether the government had received any private offers for the company’s Scunthorpe plant, Sarah Jones said:There is not at the moment, to answer your question, a private company that is there willing to invest at this point.When we came into government, there was a deal on the table with Tata Steel in Port Talbot.We negotiated in 10 weeks a much better deal, but there was a private company willing to invest, who are now investing.We are hoping that the company will co-operate with what we are asking them to do, we hope that we will give them a notice and they will continue.If they do not, we will step in. Now the company will be liable for any costs that we incur, and we will seek to get that money back.We have the £2.5 billion fund for steel which we had in our manifesto, that we will use if necessary, so there will be no extra costs to the Exch...

Politics

3 w. ago Labour faces calls to nationalise British Steel as MPs urged to pass emergency law today to save UK steelmaking and thousands of jobs

Both the Commons and the Lords have reconvened during Easter recess for a highly unusual Saturday sitting to debate a Bill aimed at blocking Jingye from closing the Scunthorpe site.

Society

3 w. ago British Steel nationalisation is ‘likely option’, says business secretary

MPs recalled to Parliament to debate bill after Chinese owners said furnaces were not financially viable

Politics

3 w. ago British Steel latest: Nationalisation ‘likely’, says business secretary as MPs debate emergency law

The prime minister will pass a bill through parliament in a single day on Saturday

Society

3 w. ago MPs debate emergency law to take control of British Steel after Chinese owners’ ‘excessive’ demands – live

No 10 has published a draft law that would give the business secretary the power to direct the companyIt’s been a busy morning for Sarah Jones, who is now on BBC Breakfast.Asked whether the government had received any private offers for the company’s Scunthorpe plant, Sarah Jones said:There is not at the moment, to answer your question, a private company that is there willing to invest at this point.When we came into government, there was a deal on the table with Tata Steel in Port Talbot.We negotiated in 10 weeks a much better deal, but there was a private company willing to invest, who are now investing.We are hoping that the company will co-operate with what we are asking them to do, we hope that we will give them a notice and they will continue.If they do not, we will step in. Now the company will be liable for any costs that we incur, and we will seek to get that money back.We have the £2.5 billion fund for steel which we had in our manifesto, that we will use if necessary, so ...

Society

3 w. ago MPs begin debating emergency law to save British Steel’s Scunthorpe plant

MPs returned to Westminster on Saturday after being recalled from recess to debate the emergency legislation intended to save the Scunthorpe plant.

Politics

3 w. ago British Steel latest: MPs begin to debate emergency law to save branch from closure

The prime minister will pass a bill through parliament in a single day on Saturday

Politics

3 w. ago MPs debating emergency law to take control of British Steel – live

No 10 has published a draft law that would give the business secretary the power to direct the companyIt’s been a busy morning for Sarah Jones, who is now on BBC Breakfast.Asked whether the government had received any private offers for the company’s Scunthorpe plant, Sarah Jones said:There is not at the moment, to answer your question, a private company that is there willing to invest at this point.When we came into government, there was a deal on the table with Tata Steel in Port Talbot.We negotiated in 10 weeks a much better deal, but there was a private company willing to invest, who are now investing.We are hoping that the company will co-operate with what we are asking them to do, we hope that we will give them a notice and they will continue.If they do not, we will step in. Now the company will be liable for any costs that we incur, and we will seek to get that money back.We have the £2.5 billion fund for steel which we had in our manifesto, that we will use if necessary, so ...

Society

3 w. ago Why today's British Steel emergency law debate in Parliament is so important

'The future of British Steel hangs in the balance'

Politics

3 w. ago MPs and Lords head to parliament as PM aims to pass emergency law today to save British Steel – live

MPs to debate emergency law that will give the business secretary the power to direct the companyBlast furnaces have been making steel in Britain for 300 years, ever since they helped start the Industrial Revolution. This weekend, parliament will sit for the first Saturday in decades as it tries to keep the last two furnaces running for a bit longer.Keir Starmer has recalled MPs to discuss emergency powers to direct steel companies, including British Steel’s Scunthorpe steelworks, to “preserve capability and ensure public safety”. The move would be short of nationalisation, but it would give the government more influence on the steel industry than at any point since Margaret Thatcher. Continue reading...

Politics

3 w. ago British Steel faces being nationalised as MPs are recalled to Parliament for rare weekend summit

British Steel could be taken under Government control in a move that paves the way for nationalisation, as MPs were recalled to Parliament to debate emergency legislation.

Politics

3 w. ago Government seeks control of British Steel in potential move to nationalisation

MPs and peers will break from Easter recess to debate the Bill as part of plans that would see taxpayer money used to keep the steelworks running.

Politics