British Steel
(asked on 19th March 2026) - View Source
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what estimate he has made of the value of British Steel.
Answered by
Chris McDonald
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 24th March 2026
There are approximately 3,000 workers at British Steel’s Scunthorpe site. British Steel remains owned by Jingye and HM Government’s powers to intervene under the Steel Industry (Special Measures) Act 2025 are designed to maintain steelmaking and avoid a disorderly closure of the blast furnaces.
We are in discussions with the owner, which remain confidential, to find a pragmatic and realistic solution.