UK Government Takes Emergency Control of British Steel to Avert Plant Closure

Emergency legislation passed in a rare Saturday parliamentary session grants the government temporary authority over the Scunthorpe plant as nationalisation looms as a likely next step.

• The UK government has enacted emergency legislation to assume control of British Steel's Scunthorpe plant, the country's last facility for producing virgin steel, to prevent its imminent shutdown.
• The legislation allows the government to direct operations, ensure staff are paid, and procure raw materials to keep the blast furnaces running, halting Jingye's planned closure of the plant.
• Negotiations with Chinese owner Jingye broke down after the company rejected government support offers and demanded excessive financial aid, leading to the intervention.
• While the measure stops short of full nationalisation, ministers acknowledge that public ownership is a likely outcome due to the lack of private investment interest.
• The extraordinary recall of Parliament for a Saturday session highlights the critical economic and national security importance of maintaining domestic steel production and protecting 3,500 jobs.

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