The UK is to take full ownership of British Steel, Prime Minister Sir Keir Starmer said on Monday as he set out why the Labour Party should back him as leader as pressure rises for him to quit.
The government last year used emergency legislation to take control of the steelworks amid fears that Chinese owner Jingye was running down its site in Scunthorpe after halting coke imports.
Starmer said the government and Jingye had not been able to agree a commercial sale. “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 of British Steel.”
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