Labour lining up new directors for British Steel ahead of nationalisation

Labour lining up new directors for British Steel ahead of nationalisation

The Government is lining up new directors for the board of British Steel ahead of its expected nationalisation.Emergency legislation was used to take control of the firm’s Scunthorpe plant in April last year after Chinese owners, Jingye, reportedly threatened to turn off the blast furnaces. Jingye said it was losing hundreds of thousands of pounds a day running the plant. The site houses the UK’s last two operational blast furnaces, nicknamed Be…