1 week Ago
"All options" remain on the table over the future of British Steel, the chancellor has said, as fears mount over the company's plant in Scunthorpe. The government is actively considering nationalising British Steel after Jingye, its owner in Scunthorpe, cancelled future orders for the iron ore, coal and other raw materials needed to keep the furnaces running. The decision has led to fears that the Scunthorpe plant, the last blast furnaces left operating in Britain, could be forced to close as early as next month .
Speaking to reporters in Bedfordshire, Rachel Reeves suggested nationalisation could be an option to secure the future of British Steel in Scunthorpe, which was purchased by Jingye out of receivership in 2020. "All options remain on the table regarding British Steel," she said. "This government recognises the importance of those jobs in Scunthorpe and in the local area, and we're doing everything we can to preserve those jobs and to support those communities.
"We're in conversation both with the owners and with the trade unions to find a deal." This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version.
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