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Departmental Contingent Liability Notification
27 November 2025
Type
Written Ministerial Statement
Department
Department for Business and Trade
At a Glance
Issue Summary
Chris McDonald is informing members about a contingent liability guarantee for SEFE in support of British Steel Limited.
Action Requested
The Department for Business and Trade will enter into a guarantee to replace existing credit support, ensuring SEFE extends the supply contract with British Steel Limited on favourable terms. A Departmental Minute detailing this liability will be laid today.
Key Facts
- The contingent liability is pursuant to the Steel Industry (Special Measures) Act 2025.
- The value of the guarantee is equal to existing credit support and a policy requirement for SEFE.
- Effective date: 31 March 2026.
- Authority for expenditure will be sought through normal procedure.
- Termination by Department requires 10 Business Days’ written notice to SEFE.
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