SirKeir Starmerhasannouncedlegislation will be brought forward this week to take full national ownership ofBritish Steel.
“InScunthorpe, we’ve been negotiating with the current owner, and a commercial sale has not been possible, and now a public interest test could be met,” the Prime Minister said.
“So, I can announce that legislation will be brought forward this week to give the government powers, subject to that public interest test, to take full national ownership ofBritish Steel.”
A steel union welcomed the announcement. Charlotte Brumpton-Childs, GMB National Secretary, said: “This legislation will cover the whole steel industry – it isn’t specifically for British Steel, but it is what will protect it from foreign owners.
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“British Steel is a nationally strategic asset, it is right that the Government does everything in its power to secure its long-term future.
“GMB welcomes this decisive and timely intervention by the Government which will protect one of the UK’s most important industries.”
Starmer’s speech comes after a weekend of speculation about potential leadership challenges, with former minister Catherine West suggesting she would launch an attempt to topple Sir Keir if a Cabinet member did not step forward instead.
Sir Keir said he would fight any leadership challenge, saying he would not “walk away”.
This is a breaking news story, more to follow...