Steel News – Late May 2026

A Bill to grant the government powers to nationalise steel companies such as Scunthorpe-based British Steel, subject to a public interest being met, has been introduced to Parliament.

The Bill had its First Reading yesterday, (14 May) with its Second Reading expected to take place in the near future where MPs will have their first opportunity to debate the Bill and give their opinions.

The legislation aims to build on the government’s Steel Strategy, launched in March, which sets out a long‑term plan to revitalise the UK steel sector, restore domestic production to sustainable levels and secure steel’s role in critical sectors including national infrastructure, defence and clean energy.

Sourced from TheBusinessDesk