STORY
The Steel Industry (Nationalisation) Bill is due to receive its second reading in the House of Lords, after completing its Commons stages earlier this month. The Bill would give ministers powers to bring a steel company into public ownership where this is judged to be in the public interest.
The Government has said the legislation is being fast-tracked because of the need to safeguard the future of the UK steel industry. Parliament’s Lords Library said the Bill completed its House of Commons stages on 9 June and was scheduled for Lords second reading on 16 June.
The legislation does not itself nationalise British Steel, but it would give the Government a route to do so if ministers decide that intervention is necessary. Peers are expected to examine the principles of the Bill and the case for expedited legislation.