The government spent £377m in nine months to keep British Steel's Scunthorpe site operating, according to a report. The National Audit Office (NAO) said ongoing operations were costing the department of Business and Trade (DBT) about £1.3m a day, with no set budget, repayment schedule or end date. The government stepped in to prevent the closure of the last two remaining blast furnaces in the UK in April 2025, preventing job losses and serious impact on industry, the report said. The government department is now considering options for the future of the site and a spokesperson said they were "determined to support British steelmaking now and for generations to come". The NAO is the UK's independent public spending watchdog. The report highlighted £15m was spent on advisers between 12 April 2025 and 31 January 2026, and £359m to British Steel for operating activities, such as paying for raw materials and payroll, while £3m was spent on legal and other costs at the North Lincolnshire plant. The £377m was classified as a loan, the report said, but the DBT has no repayment schedule in place and it was not apparent that British Steel would be able to repay the loan. The NAO said spendin
Mar 16, 2026 → Mar 31, 2026
New measures will protect Tata and British Steel but allow foreign pre-made parts into the UK, say industry bosses Steel bosses have warned ministers that a âback doorâ in new trade rules could hit British manufacturers and lead to job…
Read original at The Guardian →3 updates from 2 sources over 2 weeks.
New measures will protect Tata and British Steel but allow foreign pre-made parts into the UK, say industry bosses Steel bosses have warned ministers that a âback doorâ in new trade rules could hit British…
Read original at The Guardian →UK plans to take economic control from Chinese owner Jingye a year after stepping in to run plant, sources say British Steel is on track to be fully nationalised within weeks, the Guardian understands, a year after the…
Read original at The Guardian →The government spent £377m in nine months to keep British Steel's Scunthorpe site operating, according to a report. The National Audit Office (NAO) said ongoing operations were costing the department of Business and…
Read original at BBC →What this story stands on. Tier 0 is a primary record or the subject's own words; higher tiers must be attributed, never stated as bare fact.
New measures will protect Tata and British Steel but allow foreign pre-made parts into the UK, say industry bosses Steel bosses have warned ministers that a âback doorâ in new trade rules could hit British manufacturers and lead to job…
View source →UK plans to take economic control from Chinese owner Jingye a year after stepping in to run plant, sources say British Steel is on track to be fully nationalised within weeks, the Guardian understands, a year after the government took over…
View source →The government spent £377m in nine months to keep British Steel's Scunthorpe site operating, according to a report. The National Audit Office (NAO) said ongoing operations were costing the department of Business and Trade (DBT) about £1.3m…
View source →Tier key: T0 = Primary source · T1 = Wire · T2 = Outlet report · T3 = Commentary
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