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British Steel

Asked by Dame Harriett BaldwinConservativeDepartment for Business and TradeTabled Answered 24 March 2026UIN 122093

The question

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

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.

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