The government has taken British Steel into public ownership following the Steel Industry (Nationalisation) Act receiving Royal Assent, in a landmark decision that ministers say is necessary to protect the UK’s domestic steelmaking capability, thousands of jobs, and the supply chains underpinning major infrastructure, defence, and energy programmes. The decision follows more than a year of government intervention that began in April 2025 when ministers stepped in to keep British Steel’s Scunthorpe blast furnaces running and prevent a disorderly closure. Extensive negotiations with former owner Jingye ultimately failed to produce an agreement that would secure the company’s future while delivering…
