New legislation gives Government power to bring British Steel into public ownership
British Steel could be back in Government hands for the first time since being sold off in 1988, thanks to powers that will be included in new legislation to be set out in the Kings Speech on Wednesday.
British Steel enables £9.8bn in UK economic activity and 142,000 jobs, new analysis shows
British Steel supports billions of pounds of economic activity and tens of thousands of jobs across the UK, according to new independent analysis by Oxford Economics.
Forging Britain’s Future: British Steel’s pivotal role in the UK economy
“It’s crucial that the UK has a functioning domestic steel sector that continues to support major infrastructure and protects us from international volatility.”
Government recognises steel as critical for UK's national security
Steel will be recognised as critical for the UK’s national security, with new guidance prioritising contracts for British business where necessary to protect national security.