Labour confirms Port Talbot steelworks will NOT be nationalised - 'No decision has been made and taken'

GB News - News

source • 1 mention

Labour confirms Port Talbot steelworks will NOT be nationalised - 'No decision has been made and taken'.

Supported by 1 story

A Labour minister has confirmed the Port Talbot steelworks are not due to be nationalised.

Supported by 1 story

Lord Leong said while the Steel Industry (Nationalisation) Bill "provides flexibility to intervene if a future need arises", ministers had set their sights on taking only British Steel assets into public ownership.The Bill, which would give ministers the power to nationalise steel businesses' shares or property, has already cleared the Commons.Peers in the House of Lords backed it at second reading on Tuesday, but the proposal faces further scrutiny at a later date before it can become law.

Supported by 1 story

TRENDING Stories Videos Your Say British Steel's Scunthorpe steelworks, in north Lincolnshire, has been operating under a Government direction since last year, to prevent its Chinese owner Jingye from closing blast furnaces.The company was eventually not nationalised.It is thought the Government previously tried to negotiate with British Steel's owners on a commercial sale but failed to strike a deal.Lord...

Supported by 1 story