Asked by: Llinos Medi (Plaid Cymru - Ynys Môn)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether he has made an estimate of the cost of nationalising the British Steel plant in Scunthorpe.
Answered by Sarah Jones - Minister of State (Home Office)
As part of the Government's responsible approach to policy and decision-making, we have considered the merits of nationalising British Steel and made an estimate of the cost. That estimate is confidential for commercial reasons. However, the Government has no plans to nationalise British Steel.
We are developing a steel strategy, working in partnership with trade unions and industry to grow the steel sector in the UK. This government has identified up to £2.5bn (on top of the £500mn secured for Port Talbot) to support the steel industry.