Business secretary Jonathan Reynolds told MPs that nationalisation of British Steel was a “likely option” as his government took the unusual step of recalling parliament to prevent the company’s owners from shutting the plant.
Reynolds said the decision to recall parliament for an emergency sitting on Saturday had not been taken lightly, as he defended the government’s negotiations with Jingye, the Chinese owner of British Steel.
The bill, he said, was a “proportionate and necessary” step to preserve primary steelmaking in the UK and protect 3,500 jobs, although he did not want to keep the new power for “longer than necessary”.
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