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British Steel
14 May 2026
Type
Written Ministerial Statement
Department
Department for Business and Trade
At a Glance
Issue Summary
The statement addresses the government's ongoing suppor [6D [K support and funding for British Steel under special measures, as well as pl [2D [K plans to introduce legislation enabling public ownership of steel companies [9D [K companies.
Action Requested
The Government will introduce a Bill allowing it to [K bring steel companies or their operations into public ownership if the publ [4D [K public interest test is met. The decision to nationalise British Steel is s [1D [K strongly considered but dependent on future assessments of relevant facts a [1D [K and the public interest being satisfied.
Key Facts
- The Government committed to updating Parliament every fou [3D [K four sitting weeks during special measures under the Steel Industry (Specia [7D [K (Special Measures) Act 2025.
- To date, £484 million has been provided for [3D [K for British Steel’s working capital from existing budgets set at Spring Sta [3D [K Statement 2025.
- A Bill will be introduced to provide a route for Governm [7D [K Government to bring steel companies or their operations into public ownersh [7D [K ownership if the public interest test is met.
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