UK MPs Approve Emergency Bill to Rescue Scunthorpe Steel Plant

UK lawmakers convened for an extraordinary Saturday session to pass emergency legislation aimed at preventing the closure of the Scunthorpe steel plant, the last facility in the UK producing steel from scratch. The bill, which grants the government control over British Steel, was approved unanimously in the Commons and will soon be debated in the Lords. Business Secretary Jonathan Reynolds criticized the plant's Chinese owners, Jingye, for failing to negotiate in good faith, as the company faces significant financial losses, losing approximately £700,000 daily. The government is framing the plant's potential closure as a threat to the UK's economic and industrial security, emphasizing the critical role of steel in various sectors. While nationalization remains a possibility, the immediate focus is on maintaining operations and securing a private partner for investment. Opposition members criticized the government's delayed response, highlighting the necessity of swift action to avert the loss of jobs and industrial capability in the UK.