House of Commons · Written Ministerial Statement
British Steel
14 May 2026 · Department for Business and Trade
Proposed by Chris McDonald Lab Stockton North
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The government will introduce a Bill to enable public ownership of steel companies if the public interest test is met.
- The decision to nationalise British Steel is under strong consideration but contingent on future assessments.
- Ongoing support and funding for British Steel under special measures is continuing.
Issue summary
The statement addresses the government's ongoing support and funding for British Steel under special measures, as well as plans to introduce legislation enabling public ownership of steel companies.
Action requested
The Government will introduce a Bill allowing it to bring steel companies or their operations into public ownership if the public interest test is met. The decision to nationalise British Steel is strongly considered but dependent on future assessments of relevant facts and the public interest being satisfied.
Key facts
- The Government committed to updating Parliament every four sitting weeks during special measures under the Steel Industry (Special Measures) Act 2025.
- To date, £484 million has been provided for British Steel’s working capital from existing budgets set at Spring Statement 2025.
- A Bill will be introduced to provide a route for Government to bring steel companies or their operations into public ownership if the public interest test is met.