Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, whether his Department has determined a (a) budget, (b) repayment schedule and (c) end date for its intervention in British Steel.

Budgets for British Steel are subject to the usual government approvals processes and ministerial decisions. All support for British Steel has been drawn from existing HMG budgets, with no additional borrowing required. Funding provided to British Steel Limited is recoverable as a debt owed to the Crown. 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. We continue to work with Jingye to find a pragmatic, realistic solution for the future of BSL.