Key events
Speaking on Friday, Starmer said the “future of British steel hangs in the balance” and he would not stand by while the last blast furnaces in the UK were closed, shutting an essential industry. He said:
We will pass emergency legislation in one day to give the Business Secretary the powers to do everything possible to stop the closure of these blast furnaces.
A No 10 spokesperson said:
The prime minister has been clear, his government will always act in the national interest. All actions we take are in the name of British industry, British jobs and for British workers.
Tomorrow (Saturday), parliament will be recalled to debate the steel industry (special measures) bill. The bill provides the government with the power to direct steel companies in England, which we will use to protect the Scunthorpe site. It enables the UK government to preserve capability and ensure public safety. It also ensures all options remain viable for the future of the plant and the livelihoods it supports.
We have been negotiating with British Steel’s owners in good faith ever since coming to office. We have always been clear there is a bright future for steel in the UK. All options remain on the table.
Will British Steel be nationalised?
Rowena Mason
When the legislation is passed, Reynolds will be able to order the company to buy the raw materials to keep two blast furnaces going at the plant and the taxpayer will take on the costs of the purchases. The company’s owner, Jingye, has said it is losing about £700,000 a day.
The issue of nationalisation will be dealt with separately and is not certain to happen, but senior sources said it was the likely outcome and the government would look at potential private sector partners for a transfer of ownership and co-investment.
The company declined to comment and it remains unclear how Jingye will respond to being directed by the UK government.
Government sources said generous offers had been made to the Chinese company that any rational actor would have accepted, and that the UK was taking action to keep the furnaces going in order to continue talks about the next steps. Once they had been allowed to stop, the furnaces would be impossible to restart.
MPs to debate emergency legislation to save British Steel
Good morning and welcome to a slightly unusual Saturday edition of our politics live blog.
Keir Starmer is stepping in to seize control of British Steel to stop its Chinese owner shutting the Scunthorpe plant in an unprecedented move that paves the way for likely nationalisation.
The prime minister was granted a recall of parliament on Saturday, with MPs set to debate emergency laws that will give the business secretary, Jonathan Reynolds, the power to direct the company.
The Commons will sit at 11am, with MPs called back from Easter recess to discuss putting the assets under public control. The government will aim to get emergency legislation through the Commons and Lords in one day of sitting.
We’ll cover the debate live while also bringing you analysis and other political updates throughout the day.