Government urged to refuse £1bn British Steel repayment to Chinese former owner Politics Business secretary Jonathan Reynolds has been urged to refuse to pay back almost £1bn in loans to the Chinese former owners of British Steel after it was nationalised earlier this year. British Steel owed just under £1bn to companies connected to its owner Jingye Steel before it was taken into public ownership in an emergency [...]
Industry chief calls on government to water down steel tariff plans Industrials Government plans to double tariffs on steel imports pose an enormous threat to Britain’s already ailing manufacturing industry, pushing up costs at a time when many are already in the jaws of an inflationary energy shock, Britain’s largest industry body has warned. In a letter seen by City AM, British Chambers of Commerce (BCC) boss [...]
Cabinet ministers urge Starmer to set path for succession Politics Keir Starmer’s Downing Street operation was plunged into a full-blown crisis on Monday, after three cabinet ministers urged him to set a timeline for his resignation despite the robust defence of his premiership he launched in a make-or-break stump speech earlier in the day. Speculation over the future of his government reached fever pitch into [...]
British Steel cancels mass redundancy plans April 22, 2025 Thousands of steel workers have breathed a sigh of relief after the threat of mass redundancies was withdrawn following a government decision to put British Steel into public ownership. China-based Jingye, the Scunthorpe plant’s former owner, said last month it was consulting on up to 2,700 job losses after it rejected a £500m subsidy from [...]
British Steel: ‘Anti-China rhetoric’ criticised as ‘absurd’ by embassy April 16, 2025 China’s embassy in Britain has criticised the “arrogance, ignorance and twisted mindset” of UK politicians towards Chinese business, as it defended British Steel’s owner Jingye. It comes after Jonathan Reynolds said that the nationalisation of the British Steel plant in Scunthorpe is the “likely option at this stage”, while stressing the need to secure a [...]
British Steel: Reynolds would view Chinese firms in ‘different way’ April 15, 2025 Jonathan Reynolds has said he would “look at a Chinese firm in a different way” from those of other nations on involvement in the UK steel industry. But the business secretary has insisted the UK government took control of British Steel because of “one specific company”, and did not rule out Chinese firms being involved [...]
British Steel: What is at stake? April 14, 2025 Government officials were in a race on Monday to secure the critical supply of materials needed to keep British Steel’s two blast furnaces in Scunthorpe running. The site’s closure would spell the end of the final hub in the UK capable of producing virgin steel, making it the only member of the G7 unable to [...]
British Steel: No 10 won’t rule out future Chinese involvement in steel making April 14, 2025 No 10 has declined to rule out future Chinese involvement in steel making, amid a race to keep the British Steel furnaces alight in Scunthorpe. The UK government has now said it is “confident” it will beat a race against time to keep the site running after taking control of the plant from Chinese owners [...]
British Steel: No10 ‘confident’ it will secure materials to keep plant running April 14, 2025 The UK government is confident it will beat a race against time to keep the British Steel furnaces running after taking control of the plant from Chinese owners Jingye this weekend. Civil servants and steel workers were rushing to secure the raw materials to keep the Scunthorpe site’s furnaces going – which supply Network Rail [...]
Parliament to be recalled over future of British Steel April 11, 2025 Parliament will be recalled on Saturday to discuss the future of British Steel, Downing Street has confirmed. A government source said it is looking “take control” of the company after its owner, China’s Jingye, said its two blast furnaces in Scunthorpe were “no longer financially sustainable.” British Steel employs around 2,700 people but is weeks [...]