Anonymousabout 2 hours ago
The UK government has announced legislation to nationalise British Steel, the first such move since the company was privatised in 1988. The intervention, which has already cost taxpayers £377 million and is projected to reach £615 million by June 2026, follows the collapse of negotiations with Chinese owner Jingye Group and aims to prevent the closure of the Scunthorpe plant, which supports 2,700 direct jobs and over 20,000 across the supply chain. The move raises fundamental questions about the commercial viability of UK primary steelmaking, the government's exit strategy, and whether public ownership can succeed where private investment failed.