Nationalisation
The question
To ask the Secretary of State for Business, Innovation, Science and Trade, what assessment he made of alternative options to nationalisation before concluding that it was necessary in the public interest.
Answered by Department for Business, Innovation, Science and Trade
The Government engaged extensively and in good faith with Jingye to seek a negotiated commercial solution that resolved the ownership of the firm.
However, despite those efforts, it was not possible to reach an agreement that was in the interests of taxpayers. The Government concluded based on the relevant factors that nationalisation was necessary in the public interest.
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