UK Government Weighs Nationalisation to Protect British Steel Jobs

Consultations on closing Scunthorpe blast furnaces intensify as the government keeps nationalisation as a last-resort option to safeguard domestic steel production.

• British Steel has begun consultations on the potential closure of blast furnaces at its Scunthorpe plant, raising concerns over significant job losses.
• The UK Government is in active discussions with British Steel's Chinese owner, Jingye Group, to explore solutions for the company's future.
• Prime Minister Keir Starmer confirmed that all strategic options, including nationalisation, remain under consideration to secure the plant's operations.
• Industry minister Sarah Jones emphasized the government's steel plan, which aims to protect jobs, modernize the sector, and support economic growth.
• High energy costs and policy criticisms have been cited as key challenges facing the steel industry, with calls growing for temporary nationalisation to stabilize operations.

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