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News in English (USA) / 14.04.2025 / 07:00

UK Government Takes Emergency Control of British Steel Amid Crisis

The UK government has swiftly moved to take control of British Steel, particularly focusing on the Scunthorpe steelworks, to prevent imminent furnace shutdowns. Following failed negotiations with Chinese owner Jingye, emergency legislation was rushed through Parliament to authorise nationalisation and secure the future of the last major steel plant in the country. Ministers have faced criticism for their previous trust in foreign ownership, leading to a reassessment of future investments from China. The situation escalated as workers attempted to block access for Chinese executives, underscoring the tensions at the site. In light of potential supply issues, the government is also exploring offers to procure essential raw materials. This unfolding crisis has ignited fierce debates on the UK steel industry’s viability and the implications of public ownership for its future.
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