POLITICSTHE GUARDIAN WORLD
British Steel is taken into public ownership to save UK supply
British Steel has been taken into public ownership by the UK government to prevent the closure of its Scunthorpe factory and the loss of 4,000 jobs. The expropriation from China’s Jingye follows a 15-month government intervention, with ministers seeking a valuer to assess compensation. Keir Starmer stated the move was in the national interest, as the Steel Industry (Nationalisation) Act received Royal Assent.
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- China’s Jingye seeks compensation from UK over British Steel takeover
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- Government pledges legislation to fully renationalise British Steel blast furnaces after failure to reach agreement with Chinese owner
- British Steel nationalisation: what went wrong, and what happens now?