Emergency legislation to save British Steel will be debated by UK lawmakers at an extraordinary meeting scheduled by the PM on Saturday.
Earlier, Prime Minister Keir Starmer warned that the country’s “economic and national security is at risk.” The owner of the steel giant said the cost of operating the steel complex at Stanthorpe was not being recouped.
Starmer said the bill would be passed in one day to allow the government to “take control of the plant and retain all viable options.”
The Government has recalled both Houses of Parliament from the Easter recess for this purpose. It is also considering nationalising British Steel after Chinese owner Jingye stopped buying iron ore, coal and other raw materials needed to keep the blast furnaces running.
Steel from the plant is used in the railway network, construction and automotive industries.
According to the Prime Minister, the emergency law will give the Business Minister the power to do “everything possible to stop the closure of these blast furnaces.” The list of powers includes the right to direct the company’s board of directors and labour force. It will also allow the company to order raw materials to keep the furnaces running.
