Starmer announces plans to renationalise British Steel in major speech
Sir Keir Starmer announced legislation will be introduced this week to take full national ownership of British Steel.
“We have been negotiating with the current owner in Scunthorpe and a commercial sale has not been possible, the public interest test can now be met,” the Prime Minister said.
“I can therefore announce that legislation will be brought forward this week that would give the government the power to take full national ownership of British Steel, subject to the public interest test.”
The steel union welcomed the announcement. GMB National Secretary Charlotte Brumpton-Childs said: “This legislation will cover the whole steel industry – not British Steel in particular, but it is what will protect it from foreign owners.
“British Steel is a national strategic asset; it is true that the Government is doing everything it can to secure its long-term future.
“GMB welcomes this decisive and timely intervention by the Government, which will protect one of the UK’s most important industries.”
Starmer’s speech followed speculation over the weekend about potential leadership challenges, with former minister Catherine West suggesting there would be a bid to oust Sir Keir if a Cabinet member did not come forward.
Sir Keir said he would fight any leadership challenge and would not “walk away”.
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