STORY
The Government has brought British Steel into public ownership with immediate effect, ending the company’s period under emergency state intervention and securing continued steelmaking at Scunthorpe. Ministers said the regulations transferring the company were signed on 15 July and came into force on 16 July once the Steel Industry (Nationalisation) Act was in force.
British Steel had been operating under Government control since April 2025 after ministers intervened to prevent the closure of the blast furnaces. The Government said public ownership would protect domestic steelmaking capacity and provide stability for workers and supply chains.
Business Secretary Peter Kyle said the decision would protect jobs and strengthen an industry regarded as critical to national infrastructure. The move will also raise questions over the future cost of supporting steel production and whether former owner Jingye will receive compensation.