Politics · 7 August 2026
Labour told to deny £1bn payout to British Steel's former Chinese owners
Chris McAndrew via Wikimedia Commons (CC-BY-3.0)
The government nationalised the Scunthorpe-based steelmaker in July to protect over 2,700 jobs and the country's final working blast furnace. Reform UK spokesman Richard Tice says the public must not foot the bill for Jingye, the Chinese parent company, following its poor management. The state has already provided £555m to keep operations running while an independent valuer decides if the firm receives anything.
Reported by City AM · How we write briefs