Keir Starmer has announced plans to fully nationalise British Steel, marking the latest chapter in the troubled history of the Scunthorpe plant. The prime minister confirmed the move in a speech on Monday, stating that “strong nations in a world like this need to make steel.” The legislation is expected to be included in Wednesday’s king’s speech.
The nationalisation comes 13 months after the government recalled parliament for a historic Saturday sitting to pass emergency legislation to take control of the steelworks. Since then, Jingye Steel, a Chinese company, has remained the nominal owner, but with government officials effectively running the plant.
The Scunthorpe site is dominated by four blast furnaces named after queens: Anne, Bess (Elizabeth), Victoria and Mary. Under the new plans, these furnaces could soon be under full public ownership. Starmer hopes the decisive action will fend off challenges to his leadership.
The move has raised concerns about the cost to taxpayers, but the government argues that nationalisation is necessary to secure the future of the steel industry. The full details of the plan are expected to be revealed in the upcoming king’s speech.
