Britain takes British Steel into public ownership
Ministers say the takeover will keep steel production running in Scunthorpe and protect supply chains as a new leadership team takes over.
- On Wednesday, the UK government formally brought British Steel under public ownership following the Steel Industry Act 2026 receiving Royal Assent, which Prime Minister Sir Keir Starmer said will "safeguard a vital national capability."
- Business Secretary Peter Kyle decided to nationalize the firm to maintain production after Chinese company Jingye planned to close Scunthorpe blast furnaces, a move deemed essential for protecting UK supply chains and steelmaking capability.
- Ministers gained powers to manage assets and transfer shares under the Act, while a new leadership team was appointed to transform the firm into a "commercially sustainable, low-carbon enterprise."
- Interim chief executive Allan Bell called the transition an historic day for Britain and UK manufacturing, noting the move strengthens national security and protects skilled jobs for thousands in supply chains.
- Parliament previously approved special measures to keep the plant open last year, and Industry minister Chris McDonald stated nationalizing steel "is the right thing to do" if "the public interest test is met.
126 Articles
126 Articles
The British Government announced the nationalisation of British Steel steel, after not reaching an agreement with the previous owner, Chinese Jingye, to ensure the viability of the company. British Steel’s transfer to public property has immediate effect and occurred after the actual sanction of the Law on Wednesday ... Continue reading ""The steel is strategic": United Kingdom nationalizes steel that was in the hands of China" The post "The ste…
Production to a minimum for a century, already counts over 640 million pounds, an open conflict with the former Chinese owner Jingye. The nationalization signed by Starmer with the last act as premier tries to armor the last primary steel producer in the United Kingdom. A story that bounces also in Italy, in the swamp of the former Ilva
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