Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what conditions or requirements are attached to the £375 million capital allocation relating to British Steel included in the 2025–26 Supplementary Estimates; and whether he expects the funding to be repaid or generate a financial return to the Exchequer.

The £375 million capital allocation for British Steel Limited is recoverable as a debt owed to the Crown. The sole stipulation for this funding is that it must be used strictly for the purposes established in the legislation. Recoverability of this debt will be further assessed at year-end and the resulting treatment will be reflected and published in the Department for Business and Trade's accounts for 2025-26.

The £375m is intended for British Steel Limited, a private limited company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and registered in England and Wales with company number 12303256.