British Steel set to be nationalised, Starmer says
British Steel set to be nationalised, Starmer saysJust now Share Save Add as preferred on GoogleMichael RaceBusiness reporterReutersBritish Steel is set to be brought into public ownership, the prime minister has...
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Key developments are emerging from the global stage. British Steel set to be nationalised, Starmer saysJust now Share Save Add as preferred on GoogleMichael RaceBusiness reporterReutersBritish Steel is set to be brought into public ownership, the prime minister has announced. Sir Keir Starmer said legislation would be brought forward this week to give the government powers to take "full ownership of British Steel", subject to a public interest test.
The move comes after the government seized control of British Steel's Scunthorpe steelworks from its Chinese owners Jingye in April last year in order to halt the potential closure of its blast furnances. Sir Keir said the government had held talks with Jinqye, but that a "commersicial sale has not been possible, and now a public test could be met".
The development has drawn wide international attention, with diplomatic circles watching closely.
