Lord Sharpe of Epsom

To date, funding of £484m has been provided to British Steel Limited under the provisions of the Steel Industry (Special Measures) Act, and the full amount is recoverable as a debt due to the Crown, as set out in section 3(6) of the Act. There are no conditions attached save the requirement for the funds to be used in accordance with the purpose set out in legislation. All funding released to British Steel is reviewed and approved in advance. Recoverability of this debt is currently being assessed, and the resulting treatment will be reflected and published in the Department for Business and Trade's accounts for 2025-26.

HMG has set out its policy and operational intent to British Steel’s auditors under the Steel Industry (Special Measures) Act 2025. This does not constitute a financial guarantee, indemnity or underwriting of liabilities and reflects material already in the public domain.

British Steel remains owned by Jingye and HMG’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 continue to work with Jingye to find a pragmatic and realistic solution for the future of British Steel.

The preparation and filing of statutory accounts are a matter for the company and its directors. The arrangements for preparing and approving company accounts are a matter for British Steel and its directors, in line with their statutory responsibilities.

To date, funding of £484m has been provided to British Steel Limited under the provisions of the Steel Industry (Special Measures) Act, and the full amount is recoverable as a debt due to the Crown, as set out in section 3(6) of the Act. There are no conditions attached save the requirement for the funds to be used in accordance with the purpose set out in legislation. All funding released to British Steel is reviewed and approved in advance. Recoverability of this debt is currently being assessed, and the resulting treatment will be reflected and published in the Department for Business and Trade's accounts for 2025-26.

HMG has set out its policy and operational intent to British Steel’s auditors under the Steel Industry (Special Measures) Act 2025. This does not constitute a financial guarantee, indemnity or underwriting of liabilities and reflects material already in the public domain.

British Steel remains owned by Jingye and HMG’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 continue to work with Jingye to find a pragmatic and realistic solution for the future of British Steel.

The preparation and filing of statutory accounts are a matter for the company and its directors. The arrangements for preparing and approving company accounts are a matter for British Steel and its directors, in line with their statutory responsibilities.

The Government has reviewed the role of the Scunthorpe steelworks in contributing to the UK's national security including critical national infrastructure. The Government maintains that securing the continued operation of British Steel's assets is a necessary investment in our national interests and wider economic resilience.

Funding for British Steel is subject to the usual government approval processes and ministerial decisions and the need for HMG support is kept under review. All efforts are being made to secure a viable future for the company. All support for British Steel has been drawn from existing HMG budgets.

British Steel remains in the ownership of Jingye and estimated costs should the blast furnaces need to be decommissioned is commercially sensitive information. We continue to work with Jingye to find a pragmatic, realistic solution for the future of British Steel.

The £104 million detailed for other operational expenses will be reflected in the Department for Business and Trade's accounts for 2025-26. The accounts will be prepared on a basis consistent with government financial reporting standards.

British Steel are responsible for ensuring all tax liabilities and obligations pursuant to the UK Emissions Trading Scheme are met. Under the Companies Act 2006, the responsibility to produce accounts belongs to company directors.

The Government has reviewed the role of the Scunthorpe steelworks in contributing to the UK's national security including critical national infrastructure. The Government maintains that securing the continued operation of British Steel's assets is a necessary investment in our national interests and wider economic resilience.

Funding for British Steel is subject to the usual government approval processes and ministerial decisions and the need for HMG support is kept under review. All efforts are being made to secure a viable future for the company. All support for British Steel has been drawn from existing HMG budgets.

British Steel remains in the ownership of Jingye and estimated costs should the blast furnaces need to be decommissioned is commercially sensitive information. We continue to work with Jingye to find a pragmatic, realistic solution for the future of British Steel.

The £104 million detailed for other operational expenses will be reflected in the Department for Business and Trade's accounts for 2025-26. The accounts will be prepared on a basis consistent with government financial reporting standards.

British Steel are responsible for ensuring all tax liabilities and obligations pursuant to the UK Emissions Trading Scheme are met. Under the Companies Act 2006, the responsibility to produce accounts belongs to company directors.

The Government has reviewed the role of the Scunthorpe steelworks in contributing to the UK's national security including critical national infrastructure. The Government maintains that securing the continued operation of British Steel's assets is a necessary investment in our national interests and wider economic resilience.

Funding for British Steel is subject to the usual government approval processes and ministerial decisions and the need for HMG support is kept under review. All efforts are being made to secure a viable future for the company. All support for British Steel has been drawn from existing HMG budgets.

British Steel remains in the ownership of Jingye and estimated costs should the blast furnaces need to be decommissioned is commercially sensitive information. We continue to work with Jingye to find a pragmatic, realistic solution for the future of British Steel.

The £104 million detailed for other operational expenses will be reflected in the Department for Business and Trade's accounts for 2025-26. The accounts will be prepared on a basis consistent with government financial reporting standards.

British Steel are responsible for ensuring all tax liabilities and obligations pursuant to the UK Emissions Trading Scheme are met. Under the Companies Act 2006, the responsibility to produce accounts belongs to company directors.

The Government has reviewed the role of the Scunthorpe steelworks in contributing to the UK's national security including critical national infrastructure. The Government maintains that securing the continued operation of British Steel's assets is a necessary investment in our national interests and wider economic resilience.

Funding for British Steel is subject to the usual government approval processes and ministerial decisions and the need for HMG support is kept under review. All efforts are being made to secure a viable future for the company. All support for British Steel has been drawn from existing HMG budgets.

British Steel remains in the ownership of Jingye and estimated costs should the blast furnaces need to be decommissioned is commercially sensitive information. We continue to work with Jingye to find a pragmatic, realistic solution for the future of British Steel.

The £104 million detailed for other operational expenses will be reflected in the Department for Business and Trade's accounts for 2025-26. The accounts will be prepared on a basis consistent with government financial reporting standards.

British Steel are responsible for ensuring all tax liabilities and obligations pursuant to the UK Emissions Trading Scheme are met. Under the Companies Act 2006, the responsibility to produce accounts belongs to company directors.

The Government has reviewed the role of the Scunthorpe steelworks in contributing to the UK's national security including critical national infrastructure. The Government maintains that securing the continued operation of British Steel's assets is a necessary investment in our national interests and wider economic resilience.

Funding for British Steel is subject to the usual government approval processes and ministerial decisions and the need for HMG support is kept under review. All efforts are being made to secure a viable future for the company. All support for British Steel has been drawn from existing HMG budgets.

British Steel remains in the ownership of Jingye and estimated costs should the blast furnaces need to be decommissioned is commercially sensitive information. We continue to work with Jingye to find a pragmatic, realistic solution for the future of British Steel.

The £104 million detailed for other operational expenses will be reflected in the Department for Business and Trade's accounts for 2025-26. The accounts will be prepared on a basis consistent with government financial reporting standards.

British Steel are responsible for ensuring all tax liabilities and obligations pursuant to the UK Emissions Trading Scheme are met. Under the Companies Act 2006, the responsibility to produce accounts belongs to company directors.

The Government has reviewed the role of the Scunthorpe steelworks in contributing to the UK's national security including critical national infrastructure. The Government maintains that securing the continued operation of British Steel's assets is a necessary investment in our national interests and wider economic resilience.

Funding for British Steel is subject to the usual government approval processes and ministerial decisions and the need for HMG support is kept under review. All efforts are being made to secure a viable future for the company. All support for British Steel has been drawn from existing HMG budgets.

British Steel remains in the ownership of Jingye and estimated costs should the blast furnaces need to be decommissioned is commercially sensitive information. We continue to work with Jingye to find a pragmatic, realistic solution for the future of British Steel.

The £104 million detailed for other operational expenses will be reflected in the Department for Business and Trade's accounts for 2025-26. The accounts will be prepared on a basis consistent with government financial reporting standards.

British Steel are responsible for ensuring all tax liabilities and obligations pursuant to the UK Emissions Trading Scheme are met. Under the Companies Act 2006, the responsibility to produce accounts belongs to company directors.

Longer-term funding for British Steel is subject to agreement with HM Treasury once plans for the site are finalised and will be subject to further ministerial decisions. We continue to work with Jingye to find a pragmatic, realistic solution for the future of BSL. In the interim, as a public corporation, BSL continues trading commercially with the objective of minimising losses to the taxpayer. All support for BSL has been drawn from existing HMG budgets, with no additional borrowing required.

Steel is strategically important to the UK’s industrial base, the delivery of the Industrial Strategy and the maintenance of critical infrastructure. In April 2025, the Government we intervened introduced the Steel Industry (Special Measures) Act to avoid the premature and disorderly closure of the blast furnaces at British Steel and ensure uninterrupted steel production. The Act is a temporary measure to ensure that critical steel facilities remain operational. The passing of the Act, and use in relation to British Steel, does not itself establish any sort of precedent in UK company law. We continue to work with Jingye, the owner, to find a pragmatic and realistic solution to the future of British Steel.

The published impact assessment for the Special Measures Act considered the potential impact on the wider business community. It highlighted the exceptional nature of the intervention, which should limit any wider effect on investment. To date, DBT has provided approximately £370 million to British Steel, of this, £57 million (15%) was used for payroll costs, £104 million (28%) for other operational expenses, and £209 million (57%) for raw material purchases. This will be reflected in the Department for Business and Trade’s accounts for 2025-26.

The Government keeps British Steel’s financial position under constant review to protect taxpayers’ interests while ensuring continuity of safe and responsible operations. British Steel continues trading commercially and Government officials continue to provide on-site support in Scunthorpe monitoring, reviewing and scrutinising the use of taxpayer funds with robust financial governance in place.

Steel is strategically important to the UK’s industrial base, the delivery of the Industrial Strategy and the maintenance of critical infrastructure. In April 2025, the Government we intervened introduced the Steel Industry (Special Measures) Act to avoid the premature and disorderly closure of the blast furnaces at British Steel and ensure uninterrupted steel production. The Act is a temporary measure to ensure that critical steel facilities remain operational. The passing of the Act, and use in relation to British Steel, does not itself establish any sort of precedent in UK company law. We continue to work with Jingye, the owner, to find a pragmatic and realistic solution to the future of British Steel.

The published impact assessment for the Special Measures Act considered the potential impact on the wider business community. It highlighted the exceptional nature of the intervention, which should limit any wider effect on investment. To date, DBT has provided approximately £370 million to British Steel, of this, £57 million (15%) was used for payroll costs, £104 million (28%) for other operational expenses, and £209 million (57%) for raw material purchases. This will be reflected in the Department for Business and Trade’s accounts for 2025-26.

The Government keeps British Steel’s financial position under constant review to protect taxpayers’ interests while ensuring continuity of safe and responsible operations. British Steel continues trading commercially and Government officials continue to provide on-site support in Scunthorpe monitoring, reviewing and scrutinising the use of taxpayer funds with robust financial governance in place.

Steel is strategically important to the UK’s industrial base, the delivery of the Industrial Strategy and the maintenance of critical infrastructure. In April 2025, the Government we intervened introduced the Steel Industry (Special Measures) Act to avoid the premature and disorderly closure of the blast furnaces at British Steel and ensure uninterrupted steel production. The Act is a temporary measure to ensure that critical steel facilities remain operational. The passing of the Act, and use in relation to British Steel, does not itself establish any sort of precedent in UK company law. We continue to work with Jingye, the owner, to find a pragmatic and realistic solution to the future of British Steel.

The published impact assessment for the Special Measures Act considered the potential impact on the wider business community. It highlighted the exceptional nature of the intervention, which should limit any wider effect on investment. To date, DBT has provided approximately £370 million to British Steel, of this, £57 million (15%) was used for payroll costs, £104 million (28%) for other operational expenses, and £209 million (57%) for raw material purchases. This will be reflected in the Department for Business and Trade’s accounts for 2025-26.

The Government keeps British Steel’s financial position under constant review to protect taxpayers’ interests while ensuring continuity of safe and responsible operations. British Steel continues trading commercially and Government officials continue to provide on-site support in Scunthorpe monitoring, reviewing and scrutinising the use of taxpayer funds with robust financial governance in place.

Steel is strategically important to the UK’s industrial base, the delivery of the Industrial Strategy and the maintenance of critical infrastructure. In April 2025, the Government we intervened introduced the Steel Industry (Special Measures) Act to avoid the premature and disorderly closure of the blast furnaces at British Steel and ensure uninterrupted steel production. The Act is a temporary measure to ensure that critical steel facilities remain operational. The passing of the Act, and use in relation to British Steel, does not itself establish any sort of precedent in UK company law. We continue to work with Jingye, the owner, to find a pragmatic and realistic solution to the future of British Steel.

The published impact assessment for the Special Measures Act considered the potential impact on the wider business community. It highlighted the exceptional nature of the intervention, which should limit any wider effect on investment. To date, DBT has provided approximately £370 million to British Steel, of this, £57 million (15%) was used for payroll costs, £104 million (28%) for other operational expenses, and £209 million (57%) for raw material purchases. This will be reflected in the Department for Business and Trade’s accounts for 2025-26.

The Government keeps British Steel’s financial position under constant review to protect taxpayers’ interests while ensuring continuity of safe and responsible operations. British Steel continues trading commercially and Government officials continue to provide on-site support in Scunthorpe monitoring, reviewing and scrutinising the use of taxpayer funds with robust financial governance in place.

Steel is strategically important to the UK’s industrial base, the delivery of the Industrial Strategy and the maintenance of critical infrastructure. In April 2025, the Government we intervened introduced the Steel Industry (Special Measures) Act to avoid the premature and disorderly closure of the blast furnaces at British Steel and ensure uninterrupted steel production. The Act is a temporary measure to ensure that critical steel facilities remain operational. The passing of the Act, and use in relation to British Steel, does not itself establish any sort of precedent in UK company law. We continue to work with Jingye, the owner, to find a pragmatic and realistic solution to the future of British Steel.

The published impact assessment for the Special Measures Act considered the potential impact on the wider business community. It highlighted the exceptional nature of the intervention, which should limit any wider effect on investment. To date, DBT has provided approximately £370 million to British Steel, of this, £57 million (15%) was used for payroll costs, £104 million (28%) for other operational expenses, and £209 million (57%) for raw material purchases. This will be reflected in the Department for Business and Trade’s accounts for 2025-26.

The Government keeps British Steel’s financial position under constant review to protect taxpayers’ interests while ensuring continuity of safe and responsible operations. British Steel continues trading commercially and Government officials continue to provide on-site support in Scunthorpe monitoring, reviewing and scrutinising the use of taxpayer funds with robust financial governance in place.

The Government will always abide by our legal obligations and offer fair treatment to all businesses. This includes meeting our responsibilities under the Steel Industry (Special Measures) Act.

We are currently in close discussions with the owner of British Steel to agree a pragmatic and commercial solution to the current situation. We do not comment on the content of these live discussions.

We continue to work with Jingye to find a pragmatic, realistic solution for the future of British Steel. This will include provision for a compensation scheme upon the end of the intervention under the Act, should there be a claim that the intervention caused loss.

There will be several phases of delivery following Royal Assent of the Employment Rights Bill. For many measures, Government will consult on the detail of policy and implementation. As set out in the Implementation Roadmap, we will provide more detail on these policies and our timelines for implementation following consultation, with a clear commitment that we aim to work at pace to deliver these tangible benefits to millions of working people.

The Government has recently published a consultation on eligibility for the British Industrial Competitiveness Scheme which, from 2027, will lower electricity prices for businesses in manufacturing frontier industries and foundational industries in their supply chains. Support is also available through the British Industry Supercharger and the Energy Intensive Industries Compensation Scheme.

The Carbon Border Adjustment Mechanism (CBAM) will ensure that highly traded, carbon-intensive imported goods face a comparable carbon price to UK-produced equivalents. Imported scrap products, including those from aluminium, iron and steel, will remain outside CBAM scope due to their low carbon leakage risk.

The Government recognises the importance of a circular economy and the need for domestic supply of scrap to meet demand, whilst also ensuring the market remains fair and beneficial for all stakeholders. We are actively listening to the perspectives of all involved parties.

The Steel Strategy will articulate what is needed to create a competitive business environment in the UK with the aim of attracting new private investment to secure and expand UK steelmaking capability and capacity which is aligned with our Net Zero goals.

The UK’s abundant scrap supply offers domestic steelmaking a strategic advantage, and will feature in the Strategy. Unfortunately, we cannot comment further ahead of publication later this year, but we can say that the Steel Strategy will set out a long-term vision for a bright and sustainable steel sector in the UK and the actions needed to get there.

The Department has received its funding allocation as part of the most recent Spending Review. Detailed funding arrangements for the implementation of the Fair Work Agency are currently being worked through.

This government is committed to ensuring that the Fair Work Agency is fully resourced and well equipped to do its job. Further information on funding plans will be published in due course

We recognise the Employment Tribunal system needs appropriate resourcing. The Lord Chancellor has a statutory duty to ensure sufficient funding for an efficient and effective Employment Tribunal. This is done via negotiation with the senior judiciary via the Concordat process.

For the financial year 2025/26, the Government has committed funding to support 33,900 sitting days for Employment Tribunals, which is at maximum judicial capacity. Funding for future years will be subject to future Concordat processes.

We are working to ensure that existing spend on Acas, tribunals, and state enforcement is used in an efficient way.

The Employment Rights Bill Impact Assessments were published in October 2024 and can be found here: https://www.gov.uk/guidance/employment-rights-bill-impact-assessments. This analysis includes an assessment of the potential impact of the day-one right to not be unfairly dismissed on employment tribunal caseloads.

Following the election, this Government has outlined its ambitions through the Plan for Change, which sets out an ambitious set of milestones - across the missions - for this Parliament.

As the House would expect, Government continually reviews its work to ensure that it is delivering the best outcomes for the people of the United Kingdom, and that its policies continue to represent the best value for the taxpayer.

Public reviews will be available on gov.uk as they are published.