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British Steel

26 February 2026

Proposing MP
Chris McDonald Lab
Stockton North
Type
Written Ministerial Statement
Department
Department for Business and Trade
View on Parliament.uk -->

At a Glance

Issue Summary

Chris McDonald (Labour) is updating Parliament on the current status of British Steel under special measures and providing information on government funding.

Action Requested

The Government continues to support British Steel operationally, provides ongoing financial support within existing budgets, and works with Jingye to find a long-term solution. Once a viable plan is established, directions will be terminated, and the future of the legislation will be assessed.

Key Facts

  • The Government committed to updating Parliament every four sitting weeks during special measures under the Steel Industry (Special Measures) Act 2025.
  • As of now, approximately £370 million has been provided for working capital at British Steel.
  • Government officials are providing on-site support in Scunthorpe to ensure uninterrupted production and monitor taxpayer funding use.
  • The Impact Assessment relating to the Steel Industry (Special Measures) Act 2025 was published on 22 January, focusing on preventing unmanaged closures of major UK steel assets leading to irreversible loss of domestic capability.
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