British Steel: Nationalisation

(asked on 23rd May 2019) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will make it his policy to nationalise British Steel.


Answered by
Andrew Stephenson Portrait
Andrew Stephenson
This question was answered on 4th June 2019

Nationalisation would change the ownership of the plant, but not how it operates. It would require the Government to take on the company’s outstanding financial obligations and may not provide the necessary legal security and protection for taxpayers’ investment.

Once nationalised, in line with strict state aid rules for steel, the Government would have to act in the same was as any private owner, thinking principally of making a profit.

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