Wed, 09 Apr 2025

Wed, 09 Apr 2025 British Steel solution is within reach, minister says

The UK government is considering nationalising the Chinese-owned firm which employs 2,700 people.

* Chinese-owned business employs 2,700 people and is at risk of running out of raw materials within weeks
* Culture Secretary Lisa Nandy says a "commercial solution" for the company is "within reach"
* Government offers £500m support to switch from blast furnaces to electric arc furnaces, but plan rejected by British Steel
* Trade union leaders and politicians including Reform UK leader Nigel Farage call for nationalisation of Scunthorpe plant
* Chancellor Rachel Reeves says all options remain on the table and "we're doing everything we can to preserve those jobs"
* Local reaction in Scunthorpe is negative, with fears over 2,700 potential job losses if steelworks closes.
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