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  • NEWS STORY : UK and Cyprus Forge Closer Space Collaboration Following Bilateral Summit

    NEWS STORY : UK and Cyprus Forge Closer Space Collaboration Following Bilateral Summit

    STORY

    The United Kingdom and Cyprus have taken significant steps to strengthen their partnership in space exploration and technology. This development follows the inaugural Cyprus-UK Bilateral Cooperation Event held in Nicosia on March 27–28, 2025, which brought together government officials and industry leaders from both nations, with support from the European Space Agency (ESA).

    During the summit, the Cypriot government announced its intention to pursue Associate Membership with ESA, aiming to achieve this status by 2026. This move is expected to enhance Cyprus’s space sector and foster deeper collaboration with ESA member states, including the UK.

    Professor Anu Ojha, International Director at the UK Space Agency, highlighted the potential of this partnership:

    “There is great potential for collaboration on space activities to add a new dimension to the UK’s strong partnership with Cyprus. This has never been more important, with space firmly established as a vital tool for driving economic growth, environmental protection and national security.”

    The event featured working sessions on various topics, including regulation, space strategy development, commercial opportunities, and future missions within ESA. Representatives from ten UK space companies and fourteen Cypriot entities presented their capabilities, while ESA officials discussed potential funding programs to support joint initiatives.

    Mr. George Komodromos, Acting Permanent Secretary of the Deputy Ministry of Research, Innovation and Digital Policy of Cyprus, expressed appreciation for the UK’s support:

    “The high-level dialogue and engagement among companies, as well as among delegations, is encouraging and shows that we are moving in the right direction. We are especially grateful for the UK’s continued support of our efforts to position ourselves within the global space ecosystem.”

    Building on the momentum from the Nicosia event, the UK Space Agency plans to host a reciprocal visit by Cypriot government officials, academics, and companies later this year. Both countries aim to map existing capabilities and identify areas for future collaboration, reinforcing their commitment to advancing space exploration and technology together.

  • PRESS RELEASE : Government steps in to back British business in changing world [April 2025]

    PRESS RELEASE : Government steps in to back British business in changing world [April 2025]

    The press release issued by HM Treasury on 14 April 2025.

    The Chancellor announces a multi-billion-pound increase in government-backed financing.

    British businesses across the country have today been given further stability and certainty with access to new support through a multi-billion-pound increase in government-backed financing as the world enters a new era of global trade.

    The new package will give UK Export Finance (UKEF) the power to expand financing support for British businesses by £20 billion, with small businesses also able to access loans of up to £2 million through the British Business Bank’s Growth Guarantee Scheme.

    Thousands of companies are expected to benefit from the move, including those directly affected by tariffs – with iconic British brands like Rolls Royce through to local businesses like Alicat Workboats previously benefitting from similar programmes.

    Today’s boost reaffirms government’s commitment to free and open trade, and means an £80 billion boost for businesses, meaning they can access government-backed finance and support to grow their presence both domestically and overseas, create new jobs and drive economic growth as part of the Plan for Change.

    New measures come as prime minister goes further and faster to boost growth, working in partnership with business to deliver it.

    This week alone has seen swift and decisive action from the government to protect UK businesses and workers by:

    • Taking action to keep British Steel operating, saving thousands of jobs
    • Increasing flexibility on the zero-emission vehicle (ZEV) mandate to help British carmakers
    • Cutting the red tape that slows down clinical trials in the life sciences sector
    • Investing up to £600 million in a new Health Data Research Service
    • Backing a £30 million package to support the reopening of Doncaster Sheffield Airport which is expected to support 5,000 jobs and boost the economy by £5 billion

    Chancellor of the Exchequer, Rachel Reeves said:

    The world is changing, which is why it is more important than ever to back our world-leading businesses and support them to navigate the challenges ahead.

    Today’s announcement will do that just, with thousands of businesses right across the country set to benefit.

    We are going further and faster to boost growth, but we cannot do it alone. Only by working with businesses will we achieve our Plan for Change and put more money into people’s pockets.

    Business and Trade Secretary, Jonathan Reynolds said:

    Our message to British business is clear – we’ve got your back. This package, backed by the British Business Bank and UKEF, will be a crucial shot in the arm to exporters and small firms looking to trade around the world.

    Within a changing world, we need to adapt, and as part of our Plan for Change, this Government is responding. These changes will help to boost growth support jobs and supercharge thousands of businesses across all four corners of the country.

    UKEF will also offer businesses partial loan guarantees through more flexible uses of its Export Development Guarantee, helping to mitigate the impact of new tariffs and associated economic uncertainty. Of the £80 billion, up to £10 billion will be allocated to ensure that businesses significantly impacted in the short term by the current situation have access to the finance they need to grow.

    The British Business Bank will also expand its Growth Guarantee Scheme by £500 million, which will provide vital finance for smaller businesses as they look to invest and grow. This scheme provides the lender with a 70% government-backed guarantee against loans or other types of finance, enabling lenders to support smaller businesses that would struggle to obtain financing through traditional means – and has so far enabled more than £2.1 billion of lending.

    This comes on top of £1 billion of funding for British Business Bank programmes for this financial year, confirmed at Autumn Budget 2024. This includes additional support for smaller housebuilders through the ENABLE Build programme, funding for Start Up Loans and additional funding for three equity programmes supporting innovative high growth businesses

    This week, the Chancellor and Business and Trade Secretary also took part in the 13th UK-India Economic and Financial Dialogue (EFD) in order to strengthen ties between the two countries. In addition to India, the UK is negotiating trade deals with partners including the Gulf Cooperation Council, South Korea and Switzerland, which will give businesses more opportunities than ever before to expand into new markets.

  • NEWS STORY : Government Reappoints Sarah Newton to Lead Health and Safety Executive

    NEWS STORY : Government Reappoints Sarah Newton to Lead Health and Safety Executive

    STORY

    The Department for Work and Pensions has confirmed the reappointment of Sarah Newton as Chair of the Health and Safety Executive (HSE). Her new term will run from August 1, 2025, to July 31, 2027. Since her initial appointment in August 2020, Newton has led the HSE in its mission to ensure the health, safety, and welfare of workers across Great Britain. During her tenure, she has overseen strategic improvements and strengthened regulatory frameworks.

    Minister for Social Security and Disability, Sir Stephen Timms, stated:

    “I am pleased to confirm Sarah Newton’s reappointment as Chair of the Health and Safety Executive. Her leadership and expertise have been invaluable in driving forward HSE’s important work. I look forward to seeing her continue to lead the organisation in ensuring high standards of health and safety across the country.”

    Newton expressed her gratitude, saying:

    “I am honoured to have been re-appointed Chair of HSE. It is a privilege to work with colleagues who are passionate about our mission and dedicated to protecting people and places.”

    Before her role at the HSE, Newton served as the Member of Parliament for Truro and Falmouth from 2010 to 2019 and held positions including Minister of State for Disabled People, Work and Health. The reappointment was conducted in accordance with the Governance Code on Public Appointments, following an open and transparent process.

  • PRESS RELEASE : Sarah Newton Reappointed as Chair of the Health and Safety Executive [April 2025]

    PRESS RELEASE : Sarah Newton Reappointed as Chair of the Health and Safety Executive [April 2025]

    The press release issued by the Department for Work and Pensions on 14 April 2025.

    The Department of Work and Pensions has confirmed the reappointment of Sarah Newton as Chair of the Health and Safety Executive (HSE). Her reappointment will run from 1 August 2025 to 31 July 2027.

    Sarah Newton has led HSE since 01 August 2020, overseeing its critical role in ensuring the health, safety, and welfare of workers across Great Britain. During her tenure, she has driven strategic improvements, strengthened regulatory frameworks, and championed HSE’s mission to protect people and places.

    Minister for Social Security and Disability, RT Hon, Sir Stephen Timms said:

    I am pleased to confirm Sarah Newton’s reappointment as Chair of the Health and Safety Executive. Her leadership and expertise have been invaluable in driving forward HSE’s important work. I look forward to seeing her continue to lead the organisation in ensuring high standards of health and safety across the country.

    Sarah Newton said:

    I am honoured to have been re-appointed Chair of HSE. It is a privilege to work with colleagues who are passionate about our mission and dedicated to protecting people and places.

    This reappointment has been made in accordance with the Governance Code on Public Appointments and follows an open and transparent process.

  • NEWS STORY : UK Government Unveils £121 Million Quantum Technology Investment to Combat Financial Crime and Drive Innovation

    NEWS STORY : UK Government Unveils £121 Million Quantum Technology Investment to Combat Financial Crime and Drive Innovation

    STORY

    In a significant move to bolster the UK’s technological prowess, the government has announced a £121 million investment in quantum technology. This funding aims to enhance the nation’s capabilities in detecting fraud, preventing money laundering, and stimulating economic growth.Coinciding with World Quantum Day, the Department for Science, Innovation and Technology detailed plans to allocate these funds over the next year. The investment will support the development of advanced quantum computers and sensors, which leverage the unique properties of subatomic particles to process information at unprecedented speeds.

    Science Secretary Peter Kyle emphasised the transformative potential of quantum technology, stating, “Quantum — manipulating the universe at its smallest scale — has the potential to save millions for our economy, create thousands of jobs and improve businesses across the country — stopping fraudsters in their tracks, protecting our bank accounts and more.”Beyond financial security, the investment is poised to benefit various sectors, including healthcare and energy. By fostering innovation in these areas, the government aims to improve public services and infrastructure.

    This initiative is part of the UK’s broader National Quantum Technologies Programme, which seeks to transition quantum research from laboratories to real-world applications. The programme aligns with the government’s ‘Plan for Change,’ focusing on economic modernisation and technological advancement.​ The funding will also support talent development, providing opportunities for emerging researchers to contribute to the quantum field. By nurturing a skilled workforce, the UK aims to maintain its position as a global leader in quantum innovation.​ This announcement follows a previous commitment of £2.5 billion over ten years to advance quantum technologies, underscoring the government’s dedication to this cutting-edge sector.

  • PRESS RELEASE : £121 million boost for quantum technology set to tackle fraud, prevent money laundering and drive growth [April 2025]

    PRESS RELEASE : £121 million boost for quantum technology set to tackle fraud, prevent money laundering and drive growth [April 2025]

    The press release issued by Department for Science, Innovation and Technology on 14 April 2025.

    The UK government is investing £121 million in quantum technology to tackle crime, fraud, and money laundering, while reinforcing its global leadership in the field and driving economic savings.

    • A new £121 million investment in quantum, a novel technology with huge potential, will bolster the UK’s world-leading research programmes.
    • Developing and rolling out quantum will bring a range of benefits to working people, including improved healthcare systems and boosted energy efficiency in the grid.
    • Areas such as crimefighting, tackling fraud and preventing money laundering will also benefit, putting more money in working people’s pockets and driving economic growth.
    • Investment will see more opportunities to create the next generation of quantum researchers through talent and skills schemes, supporting the government’s Plan for Change.

    Cutting-edge quantum technology is being put to work to deliver the government’s Plan for Change, with a new £121 million investment to help tackle challenges including crimefighting, spotting the first signs of fraud and halting money laundering which could save billions for the economy.

    To coincide with World Quantum Day (Monday 14 April), the funding is being made available over the next year to expand the use of the technology, which uses the properties of the universe’s smallest particles to build ultra-powerful computers and sensors. This will further secure the UK’s position as a world-leader in quantum as part of the government’s long-term commitment to the sector.

    Today’s investment is also giving the next generation of researchers to the opportunity to bring their ideas for health, cybersecurity and beyond to life. Their innovations, like quantum technologies for tackling fraud, could birth thousands of jobs and the businesses of tomorrow – supporting the Government’s economic mission and the Plan for Change.

    This is the latest part of the UK’s National Quantum Technologies Programme: which sets out the long-term effort to back early-stage research, and support getting quantum technologies out of the lab and onto the marketplace. It sets the UK on the pathway to deliver its ambitious National Quantum Missions – our plan to make this tech deliver for the private and public sectors.

    Secretary of State for Science and Technology, Peter Kyle said:

    Quantum – manipulating the universe at its smallest scale – has the potential to save millions for our economy, create thousands of jobs and improve businesses across the country – stopping fraudsters in their tracks, protecting our bank accounts and more.

    Backing our world-class quantum researchers and businesses is an important part of our Plan for Change.

    The UK is home to the second largest community of quantum businesses in the world and this investment means they can go further paving the way for new quantum tools and products that make our lives easier, fuel growth, and help us tackle the great challenges of our era.

    Examples of use

    The technology is already being harnessed, by using quantum computing’s unique ability to analyse complex data and detect subtle patterns, to tackle fraud, one of the biggest challenges facing society, which currently costs the economy £2.6 billion each year.

    Quantum specialists at HSBC bank have been working with government backed partners like the National Quantum Computing Centre (NQCC)to find ways quantum can be used to identify the indicators of anti-money laundering. The support for the NQCC and other cutting edge facilities across the UK, that we are announcing today, is making this research possible.

    This project is proof that, with strong support from the government, researchers can harness quantum technologies to benefit working people, nationwide – in this case, protecting their bank accounts from would-be fraudsters and sparing them the lost time and heartache this crime can cause.

    The UK quantum sector is world-leading and home to the second largest community of quantum companies globally, behind only the US.This investment is the latest drive to deliver the government’s goal to unleash economic growth across the country as part of the Plan for Change, by leveraging the potential for breakthrough technologies like quantum to deliver new products, create new businesses, and support high-skill jobs. It builds on commitments such as the AI Opportunities Action Plan, which will also benefit the UK’s quantum innovators.

    Notes to editors:

    Full breakdown of today’s investment:

    • £46.1 million through Innovate UK to accelerate the deployment of quantum technology across a range of sectors, including computing, networking, PNT (position, navigation and timing) and sensing.
    • £21.1 million to further the work of the National Quantum Computing Centre, including their testbed programme with Innovate UK, with support from the Quantum Software Lab to accelerate the discovery of more ways that quantum can overhaul how we work and solve problems.
    • £10.9 million for the National Physical Laboratory’s (NPL) quantum measurement programme to encourage more businesses to make full use of the technology

    We’re also backing the next generation of leaders in quantum research to maintain the UK’s position as a pioneering nation in quantum technologies with:

    £24.6 million in funding from EPSRC for the five research hubs announced last year, including a £3 million investment into training and skills programmes.

    • £15.1 million being awarded to 11 Quantum Technology Career Acceleration Fellowships, by UKRI EPSRC, to find more real-world applications for quantum, from drug discovery to disease diagnostics
    • £4.3 million from Science and Technology Facilities Council to back early- career researchers and Quantum- enabled apprenticeships.

    Today’s announcement includes a round up of earlier investments from ESPRC and Innovate UK, including support for the five research hubs and the Quantum Missions Pilot competition, bringing the total commitment from the UK Government over the next 12 months to £121 million.

    This announcement comes as the government marks World Quantum Day, an international initiative promoting awareness of the vast capabilities of quantum science and technology. 53 countries are hosting events, from research programmes to conferences.

  • PRESS RELEASE : Government cuts price of everyday items and summer essentials [April 2025]

    PRESS RELEASE : Government cuts price of everyday items and summer essentials [April 2025]

    The press release issued by the Department for Business and Trade on 13 April 2025.

    The Government has cut prices on the imports of everyday essentials like spices and juices to boost economic growth.

    • Prices slashed on 89 foreign products – ranging from pasta, fruit juices and spices to plastics and gardening supplies – over next two years
    • Cheaper imports will save businesses at least £17 million per year in a further bid to kickstart growth as part of the Plan for Change
    • Savings could be passed onto families, mixologists and amateur gardeners through lower prices on everyday items and summer essentials
    • UK committed to economic growth, business security and lower prices through free and open trade

    UK businesses and consumers could benefit from lower prices on imports of everyday essentials like spices and juices as the Government takes further action to make the UK the best place to do business and kickstart economic growth.

    In a further demonstration of the government’s commitment to free trade and responding to business need, the UK Global Tariff will be temporarily suspended on 89 products saving UK businesses up and down the country at least £17 million a year.

    The products include plywood and plastics, which are essential for construction – making life easier for chippies all over the country.

    Working in partnership with industry, the government has decided to suspend import tariffs on a whole range of products to lower costs for businesses, tariffs will now be cut to zero until July 2027.

    The savings to businesses on products such as pasta, fruit juices, coconut oil and pine nuts could be passed onto consumers just in time for the summer season, meaning lower food prices in supermarkets, restaurants and pubs.

    Products including agave syrup, often used in margaritas, and plant bulbs will also see tariffs removed meaning keen cocktail-makers and amateur gardeners could enjoy lowered costs as the warmer weather approaches.

    These changes will support key growth sectors such as advanced manufacturing and clean energy to compete with international rivals, supporting the Government’s Industrial Strategy with the Plan for Change.

    Business and Trade Secretary Jonathan Reynolds said:

    Free and open trade grows economies, lowers prices and helps businesses to sell to the world, which is why we’re cutting tariffs on a range of products.

    From food to furniture, this will reduce the cost of everyday items for businesses, with savings hopefully passed onto consumers.

    As we face a new era of global trade, this government is going further faster to make Britain the best country to do business, delivering on our Plan for Change. These suspensions are just another example of that.

    Chancellor of the Exchequer Rachel Reeves said:

    In a changing world we know families are anxious about the cost of living, and businesses uncertain about their future. That’s why we’ve announced lower prices on imports of everyday essentials – helping businesses to thrive and pass on savings to customers.

    Through our Plan for Change we’re supporting British business and putting more money in people’s pockets.

    The UK Global Tariff applies to goods entering the UK that do not qualify for preferential treatment under, for example, a free trade agreement.

    Businesses across the UK apply for temporary suspensions on a regular basis by providing evidence of the benefits to themselves, their sector and the wider economy.

    CBI Europe and International Director Sean McGuire:

    In the face of an uncertain and unpredictable global trading environment, government should be commended for suspending import duties on an array of products. Measures like these will be important for reducing the financial pressures on firms and help to drive growth for businesses of all sizes across the country.

    The UK has already reduced tariffs on certain imported goods, benefitting British consumers with better choice, quality and prices on products like fruit juices from Peru and vacuum cleaners from Malaysia.

    The Government is going further and faster in negotiating trade deals with partners including India, the Gulf Cooperation Council, South Korea and Switzerland which will unlock new opportunities for businesses, support jobs, and boost wages.

    These measures come as the government acts swiftly to protect UK businesses and workers in a new era of global trade, through increasing flexibility on the zero emission vehicle (ZEV) mandate, cutting the red tape and bureaucracy that slows down clinical trials in the life sciences sector, investing up to £600 million in a new Health Data Research Service and backing a £30 million package to support the reopening of Doncaster Sheffield Airport which is expected to support 5,000 jobs and boost the economy by £5 billion.

  • NEWS STORY : UK MP Wera Hobhouse Denied Entry to Hong Kong During Personal Visit

    NEWS STORY : UK MP Wera Hobhouse Denied Entry to Hong Kong During Personal Visit

    STORY

    Liberal Democrat MP Wera Hobhouse was denied entry to Hong Kong while attempting to visit her newborn grandson. Upon arrival, Hobhouse was detained at passport control, questioned, had her belongings searched, and was deported five hours later without explanation. Her husband, who accompanied her, was allowed entry but chose to return to the UK.  Hobhouse, a member of the Inter-Parliamentary Alliance on China and a known critic of China’s human rights record, expressed emotional distress over missing the opportunity to meet her grandson and criticised the lack of transparency in the decision.​ This marks the first known refusal of entry to a British MP in Hong Kong since the 1997 handover, further stoking concerns over diminishing freedoms under Beijing’s control.

    Foreign Secretary David Lammy stated he was “deeply concerned” and would urgently raise the issue with Chinese authorities. Liberal Democrat leader Sir Ed Davey described the decision as “heartless” and “totally unacceptable,” urging the Foreign Secretary to demand an explanation from the Chinese ambassador. The Chinese Embassy in London is yet to comment on the denied entry.

  • NEWS STORY : UK Government Seizes Control of British Steel’s Scunthorpe Plant Amid Political Clash Over State Intervention

    NEWS STORY : UK Government Seizes Control of British Steel’s Scunthorpe Plant Amid Political Clash Over State Intervention

    STORY

    In a dramatic and rare Saturday sitting of Parliament, the UK government passed emergency legislation to take control of British Steel’s Scunthorpe plant, the country’s last remaining producer of virgin steel, in a move that has drawn praise from trade unions and northern communities—but sharp political criticism from the opposition. The intervention, led by Business Secretary Jonathan Reynolds, grants ministers temporary powers to direct operations, guarantee pay for thousands of workers, and ensure the procurement of raw materials to maintain production. Chinese owner Jingye Group had planned to shut down the plant’s blast furnaces due to mounting financial losses—estimated at £700,000 a day—and spiralling environmental costs.

    While Reynolds was clear that ownership remains with Jingye, he emphasised the government now has the authority “to act decisively in the national interest” to protect strategic industrial capacity, including jobs for around 2,700 workers. “The decision to step in wasn’t taken lightly,” Reynolds told MPs. “But we simply cannot allow the UK to lose its sovereign capacity to make steel from scratch. This is about economic security, national infrastructure, and supporting communities that built this country.”

    Cross-Party Reactions

    The emergency move, however, has sparked fierce debate across the political spectrum. Conservative Party spokespeople accused Labour of indulging in “ideological throwbacks” and warned that state interference risks undermining investor confidence.

    “This government talks a lot about modernising the economy, but this is pure 1970s nationalisation in all but name,” said Shadow Business Secretary Kemi Badenoch. “No one disputes the importance of steel, but Labour’s approach risks turning taxpayers into long-term owners of loss-making assets with no clear exit plan.” Former Chancellor Jeremy Hunt echoed the concern, adding: “Where is the plan for reform and investment? Taking over British Steel might buy some time, but it won’t solve the underlying problems without private sector innovation and accountability.”

    The Liberal Democrats offered more measured support but raised questions about the government’s long-term strategy.

    “This is a vital short-term intervention, and the government was right to act to save jobs and production,” said Liberal Democrat business spokesperson Sarah Olney. “But what we need now is transparency, a proper industrial strategy, and safeguards to prevent this from becoming a blank cheque.” She also called for “a full review of how the government handles strategic industries and foreign ownership,” saying the Scunthorpe crisis highlights vulnerabilities in how the UK manages critical infrastructure.

    Strategic Stakes

    British Steel’s Scunthorpe site is not only a major employer in Lincolnshire but also produces 95% of the UK’s rail track and plays a key role in national defence and infrastructure supply chains. The intervention has been widely welcomed by trade unions and local leaders. Unite the Union hailed the move as “a lifeline for steelworkers” and demanded longer-term investment in low-carbon steelmaking to ensure a sustainable future.

    The emergency legislation—passed with a comfortable majority—also includes provisions for future state ownership, or a move toward a public-private partnership, if negotiations with Jingye falter. A transition to electric arc furnace (EAF) technology remains part of the long-term vision, but union leaders warn this must not come at the cost of mass redundancies.

    Next Steps

    The Government has promised an update within 30 days, with a new Industrial Transition Plan to be published before the summer. Consultations with local stakeholders and unions are expected to begin immediately. In the meantime, the blast furnaces will continue operating under government direction—marking a historic moment in UK industrial policy and setting the stage for further clashes over the role of the state in securing Britain’s economic future.

  • PRESS RELEASE : Government acts to save British steel production [April 2025]

    PRESS RELEASE : Government acts to save British steel production [April 2025]

    The press release issued by the Department for Business and Trade on 12 April 2025.

    Urgent action by the Government sees vote on emergency powers to save British steel production.

    • Parliament recalled to introduce emergency powers that will allow the Government to protect the Scunthorpe site
    • Unique action to gives the best chance of safeguarding steelmaking, protecting jobs, national security and supply chains.
    • This strategic decision aims to secure domestic steel production for nationally important projects like airports, rail and housing and deliver growth at part of the Plan for Change.

    Steelmaking is set to continue in Scunthorpe following urgent action by the UK Government on Friday 11 April.

    The Prime Minister requested the recall of Parliament to vote on emergency legislation to prevent the blast furnaces being shut down.

    The move will maximise the chances of securing domestic steel production – a crucial national capability which was at risk of collapse under the site’s current ownership. This is a very specific intervention taken in exceptional circumstances.

    British Steel’s owners Jingye confirmed their intention to close the blast furnaces at Scunthorpe immediately, despite months of negotiations in good faith and a generous offer of co-investment from the UK government of £500 million.

    If the blast furnaces were to be immediately switched off, this would put at severe risk the future of steelmaking at this unique site.

    The legislation will give the Government the power to direct the company’s board and workforce, ensure they get paid, and order the raw materials to keep the blast furnace running.

    In the meantime, the Government has instructed the company’s UK management to continue the running of the plant to ensure the furnaces keep burning. This legislation means that anyone employed at the plant who takes steps to keep it running, against the orders of the Chinese ownership, can be reinstated if sacked for doing so.

    Steel is vital for both the UK’s national security and manufacturing, and crucial for the Government’s mission to build 1.5 million new homes in the UK as part of its Plan for Change, with construction projects requiring millions of tonnes of steel.

    Given global economic instability, it is crucial that manufacturing is protected at home. That’s why the Government took action earlier this week to support the car industry by easing the path to the EV mandate and deliver a £30 million package to support the reopening of Doncaster Sheffield Airport, which is expected to support 5,000 jobs and boost the economy by £5 billion.

    Business Secretary Jonathan Reynolds said:

    “We will always do what is necessary to keep Britain secure at home and strong abroad. We are doing what previous governments have failed to, acting in the national interest to help secure UK steelmaking for the future.

    “We negotiated with British Steel’s owners in good faith ever since coming to office. We made a generous offer of support to the company and I am deeply disappointed that we have been forced to take these measures, but Jingye have not been forthright throughout this process, and left us no choice but to act.

    “We’re in a new and changing world where it’s never been more important to support our security and build our resilience, so that we can have strength abroad and renewal at home, and that’s what this government has done.”

    A Bill was voted on by MPs on Saturday 12 April to ensure continuity of production at the Scunthorpe site – avoiding the danger and cost of allowing it to stop.

    Funding for the site will come from the Government’s £2.5bn steel fund, to help rebuild the industry over the next five years.

    NOTES TO EDITORS

    • All funding required for the site will come out of existing budgets, within the departmental spending envelope set out by the government at Spring Statement 2025.No further government borrowing is envisaged to support any intervention
    • As the Chancellor and PM have made clear, the UK’s fiscal rules remain non-negotiable.