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Sun, 12 Apr 2026

Sun, 12 Apr 2026 British Steel 'needs nationalising by the summer'

Labour MP Nic Dakin says it is "the best outcome" for British Steel as ownership talks continue.

* MP Nic Dakin says British Steel needs to be brought into public ownership by summer if deal with Chinese owner Jingye fails
* Labour MP calls it "the best outcome" for business to move forward and get investment while talks with Jingye continue
* Government took control of Scunthorpe plant in April 2025 to prevent blast furnaces from closing, employs 2,700 staff
* Industry minister Chris McDonald says he remains committed to resolving deal because British Steel is "vital" to country
* Uncertainty about future has continued to hang over workers and local economy
* Steelworker Thomas Smith says nationalisation would offer workers "security"
* Government costs around £1.3m a day running the company while ownership issue unresolved, Dakin says
* Minister McDonald does not give timetable for resolving British Steel's ownership, but says good resolution with Jingye would be quicker and cheaper route