The uk government has already set aside almost £100mn to pay for its bailout of british steel just weeks after taking control of its two blast furnaces from chinese owner jingye. The government priority remains to maintain the safe operation of the blast furnaces at british steel In fact, it is estimated to already be losing £700,000 a day.
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British steel said thursday that it is planning to close its two blast furnaces and steelmaking operations in the northern england town of scunthorpe, after its chinese owner jingye failed to.
The government committed to updating parliament on british steel every four sitting weeks for the duration of the period of special measures being applied under the steel industry special measures act 2025
