UK Steel has termed the move as a crucial intervention that secures the future of a strategically important steelmaker and delivers certainty for its workforce, customers and wider supply chain. 

British Steel is the UK’s sole producer of several vital long steel products, such as rail and structural sections used in the country’s transport, construction and infrastructure sectors. 

UK Steel director-general, Gareth Stace, said: “British Steel produces products that are fundamental to building and maintaining the nation’s railways, infrastructure and manufacturing base. 

“Retaining this capability in the UK is essential to strengthening our industrial resilience, supporting economic growth and reducing reliance on imports in an increasingly uncertain world.”

Stace added: “Bringing British Steel into public ownership is the right move. As the next Government takes office next week, its priority must now be to deliver a long-term plan that restores British Steel to commercial sustainability, secures investment in modern, low-carbon steelmaking and creates the competitive business environment the sector needs to thrive.”

Moving forward, UK Steel is looking to continue to work with the Government, British Steel and its workforce to attain a more robust UK steel industry and to strengthen the company’s future.