Emergency Parliament session called as British Steel faces collapse

Parliament summoned for rare Saturday session

Parliament is being recalled for an emergency Saturday session as the future of British Steel hangs in the balance. MPs have had their Easter break cut short to address the crisis facing the vital industry. This will be only the 35th time in history that Parliament has sat on a weekend.

Potential nationalisation of British Steel

There are discussions about the potential nationalisation of British Steel to prevent a complete collapse of the company. Chinese firm Jingye, the current owner of British Steel, has declined to cover the costs of coal imports, putting nearly 3,000 British jobs at risk and jeopardizing the UK's ability to produce its own steel.

Government intervention and backlash

The government is considering legislation to take over British Steel and keep the Scunthorpe plant operational. However, the move has faced criticism, particularly after the government offered to purchase emergency coal from overseas following the blocking of a new UK coal mine by Energy Secretary Ed Miliband.

Pressure for nationalisation

Pressure is mounting on the Labour Party to support the nationalisation of British Steel, with steel unions, senior Tories, and Reform UK all advocating for government intervention to save the industry. Without a commitment on raw material supplies, the furnaces are at risk of permanent closure.

Political responses and ongoing negotiations

Business Secretary Jonathan Reynolds has engaged in emergency talks with British Steel executives, pledging to act swiftly to address the crisis. Prime Minister Boris Johnson has stated that all options, including nationalisation, are being considered. Labour leader Keir Starmer emphasized the importance of preserving steel production in the UK and expressed support for exploring all possible solutions.

Uncertainty persists

Despite the government's formal offer to purchase coal for British Steel, Jingye has not yet accepted the proposal, leaving the future of the company in limbo. The outcome of the parliamentary session and ongoing negotiations will be crucial in determining the fate of British Steel and its workforce.