The Prime Minister said he understood the importance of the Scunthorpe Steel Factory as he was quized by a senior lawmaker at the Commons Liaison Committee.
Prime Minister Kiel or Prime Minister, in his proposal that the UK can nationalize the company, all options remain on the table for the future of British Steel’s Scunthorpe plant.
British Steel has launched talks on the proposed closure of the explosion furnace at the Scunthorpe factory, and the government is talking to the company’s Chinese owner Jingye.
Temporary nationalization is being sought amid fears of thousands of unemployment.
The Prime Minister said he understood the importance of steel factories as he was quized by a senior lawmaker at the Commons Liaison Committee.
“So we will continue to talk.
“We made the offer, but all options are on the table in relation to Scunthorpe.
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“It’s really important and we’re in the middle of those discussions.”
When asked what “all options” meant, the order of priorities replied:
“We can reassure the committee that we are doing everything we can to ensure that there is a bright future for Scunthorpe.
“But we are very happy to provide details as soon as possible about where we have to be in those talks.”
In media reports, the Prime Minister is “seriously considering” the company amid fallout from President Donald Trump’s tariffs.
Conservative leader Kemi Badenok previously said nationalizing British steel should be a “last resort.”
Industry Minister Sarah Jones held a meeting of the Steel Council with the CEOs of Tata, Liberty and British Steel, trade union leaders and the Trade Association’s British Steel.
She tried to reassure the industry as the initial payments from the industry’s energy cost mitigation scheme are expected to be paid next month.
Payments for the Network Charge Compensation System are expected to provide more than £15 million in relief in May and more than £300 million in relief in 2025.
Jones said:
“That is why we work together with the industry in Lockstep to drive steel plans to help the sector secure employment, promote growth and promote modern economies.
“This government is always facing the UK steelworks and where others may talk harshly, we are acting and ready to back up the UK industry.
“Our steel plan places it at the heart of our growth mission. We will keep all our options on the table to help UK steel succeed and realize our plans for change.”
Badenoch said the Scunthorpe Steel Plant is “at risk” because of the “wrong choice” of labor.
“Nationalization must be a last resort,” she told reporters during a visit to Salisbury’s chemistry measures.
She added: “In this country, steel production is necessary.
“It is important to the resilience of the nation.
“But like I said, whether it’s employment tax, what they’re doing in the economy, especially the energy costs, is why they don’t want to produce steel companies.
“Our energy costs are too high and our labor is making those costs even higher.”
