British Steel
The question
To ask the Secretary of State for Business and Trade, how much and what proportion of the working capital funding provided to British Steel has been allocated to (a) raw materials, (b) salaries and (c) other operational costs.
Answered by Chris McDonald
From 12 April 2025, the date HMG passed the Steel Industry (Special Measures) Act, to 24 February 2026, DBT has provided approximately £370 million to BSL, to ensure sufficient working capital is maintained for the safe and effective operation of the Scunthorpe site. Of the £370 million working capital allocated to BSL, £57 million (15%) was used for payroll costs, £104 million (28%) for other operational expenses, and £209 million (57%) for raw material purchases.
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