Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, how much funding his Department has been provided with under Section 8 of the Steel Industry (Special Measures) Act 2025.

The Steel Industry (Special Measures) Act 2025 gives Government the power to direct British Steel’s board and workforce, ensure they get paid, and order the raw materials to keep the blast furnaces running in Scunthorpe. We will report regularly to Parliament on the use of the Act.

The decision to introduce this legislation had collective agreement. Discussions are ongoing to determine the potential impact to public purse, but the funding required for British Steel will come out of existing budgets and there will be no changes to the Government's fiscal rules.

The Department for Business & Trade’s accounts for 2025/26 will reflect the financial support that the department has given to British Steel.

We will publish the initial impact assessment in due course, including classification considerations.