British Steel: Scunthorpe
The question
To ask the Secretary of State for Business and Trade, how much and what proportion of the funding for steel through the National Wealth Fund will be used to maintain steel production in Scunthorpe.
Answered by Gareth Thomas
The funding required to maintain iron and steel production at Scunthorpe will be drawn from the £2.5bn funding for steel, which is available through the National Wealth Fund and other routes. The National Wealth Fund is operationally independent, and financing is already accessible to projects that meet the investment principles. Companies across the UK are already engaging with them on projects within the steel sector.
The Department for Business and Trade's accounts for 2025/26 will reflect the financial support that the department has given to British Steel.
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