The UK government has taken British Steel into public ownership as of 16 July following the Steel Industry (Nationalisation) Act receiving Royal Assent.
The news comes after UK ministers concluded that bringing the company into public ownership was necessary to protect the UK’s national interest.
Maintaining steel production at British Steel’s Scunthorpe site is considered essential to preserving the UK’s ability to make steel domestically, the Department for Business and Trade reports.
This follows wider support for the UK steel sector including the Steel Strategy, published in March and backed by up to £2.5bn of investment, which aims for up to 50% of steel used in the UK to be made in the UK.
UK business secretary, Peter Kyle, said: “British Steel is one of the nation’s biggest steel producers, and I’ve made the decision to nationalise the business to secure steelmaking capability and maintain production in the national interest.
“British Steel now belongs to the British people, and our focus is on the future: stabilising the business, backing the communities that rely on it and building a sustainable, competitive and decarbonised steel sector for the years ahead.”
“The government stepped in at British Steel in April 2025 to keep the blast furnaces running and prevent a disorderly closure that would have put steel production, supply chains and thousands of jobs at risk.
“Since then, Ministers and officials have worked intensively to find a long-term solution for the business.”
British Steel has been operating under government intervention since April 2025 to ensure continued steel production and prevent the closure of the blast furnaces.
British Steel transferred into public ownership with effect immediately on 16 July 2026 through regulations signed by Industry Minister Chris McDonald on 15 July once the Act was in force.
UK prime minister, Keir Starmer, said: “British Steel is part of the fabric of our nation and a cornerstone of Britain’s industrial strength.
“This government will always act in the national interest to support British industry, strengthen our economy and ensure the industries we rely on can thrive long into the future.”
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