Question to the Department for Business, Innovation, Science and Trade:

To ask His Majesty's Government what is the current status of the investment treaty dispute initiated by Jingye concerning British Steel; whether formal arbitration proceedings have commenced; and what assessment they have made of the potential cost to the taxpayer of legal proceedings and any compensation payable.

Investor State Dispute Settlement (ISDS) is a well-established mechanism to help investors resolve disputes with states where they allege the state has failed to uphold its obligations under international investment law.

The UK has a longstanding track record of supporting foreign investment, including through fulfilling its obligations in the international investment agreements to which it is a party. The UK has never faced a successful ISDS claim.

The Government maintains that it has acted consistently with domestic and international law obligations. As the Government has been notified of a dispute, it would be inappropriate to comment further.