{"id":161900,"date":"2026-05-12T10:34:28","date_gmt":"2026-05-12T09:34:28","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=161900"},"modified":"2026-05-13T15:00:21","modified_gmt":"2026-05-13T14:00:21","slug":"pm-announces-plan-nationalise-british-steel","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/pm-announces-plan-nationalise-british-steel\/161900\/","title":{"rendered":"PM announces plan to nationalise British Steel"},"content":{"rendered":"<h2>Amid political upheaval, Prime Minister Keir Starmer has announced that the troubled British Steel will be brought back into public ownership<\/h2>\n<p>If accepted by a public interest test, the nationalisation of British Steel will take place later this week.<\/p>\n<p><a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/british-steel-bill-passed-less-than-seven-hours\/150318\/\" target=\"_blank\" rel=\"noopener\">After seizing control from owner Jingye last year,<\/a> it has been determined that a commercial sale is not currently possible. The company has been in <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/british-steel-intervention-cost-may-reach-1-5bn\/160253\/\" target=\"_blank\" rel=\"noopener\">an expensive state of uncertainty since.<\/a><\/p>\n<h3>\u201cPublic ownership is in the public interest,\u201d says PM<\/h3>\n<p>If the legislation passes as expected after the King\u2019s Speech (Wednesday, 13 May), it will be the first time that the company has been in the public\u2019s hands since 1988, a move intended to stabilise the company and its workers while also securing a vital British industrial asset.<\/p>\n<p>As the construction industry continues to deliver major projects such as Sizewell C and HS2, while navigating ongoing global conflict and persistent inflationary pressures, this development will be welcomed by some.<\/p>\n<div class=\"qMYqUG_convSearchResultHighlightRoot\">\n<div class=\"relative w-full overflow-visible\">\n<section class=\"text-token-text-primary w-full focus:outline-none [--shadow-height:45px] has-data-writing-block:pointer-events-none has-data-writing-block:-mt-(--shadow-height) has-data-writing-block:pt-(--shadow-height) [&amp;:has([data-writing-block])&gt;*]:pointer-events-auto [content-visibility:auto] supports-[content-visibility:auto]:[contain-intrinsic-size:auto_100lvh] R6Vx5W_threadScrollVars scroll-mb-[calc(var(--scroll-root-safe-area-inset-bottom,0px)+var(--thread-response-height))] scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]\" dir=\"auto\" data-turn-id=\"request-6a045c83-2b00-83eb-9efc-142165953ad3-6\" data-turn-id-container=\"request-6a045c83-2b00-83eb-9efc-142165953ad3-6\" data-testid=\"conversation-turn-44\" data-scroll-anchor=\"false\" data-turn=\"assistant\">\n<div class=\"text-base my-auto mx-auto pb-10 [--thread-content-margin:var(--thread-content-margin-xs,calc(var(--spacing)*4))] @w-sm\/main:[--thread-content-margin:var(--thread-content-margin-sm,calc(var(--spacing)*6))] @w-lg\/main:[--thread-content-margin:var(--thread-content-margin-lg,calc(var(--spacing)*16))] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:40rem] @w-lg\/main:[--thread-content-max-width:48rem] mx-auto max-w-(--thread-content-max-width) flex-1 group\/turn-messages focus-visible:outline-hidden relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"flex max-w-full flex-col gap-4 grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal outline-none keyboard-focused:focus-ring [.text-message+&amp;]:mt-1\" dir=\"auto\" tabindex=\"0\" data-message-author-role=\"assistant\" data-message-id=\"bea8a439-b826-41e6-8d56-b880fca79d0b\" data-message-model-slug=\"gpt-5-3-mini\" data-turn-start-message=\"true\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden\">\n<div class=\"markdown prose dark:prose-invert wrap-break-word w-full light markdown-new-styling\">\n<p data-start=\"0\" data-end=\"310\" data-is-last-node=\"\" data-is-only-node=\"\">This move could help bring a degree of much-needed stability to the industry and, in turn, have positive knock-on effects for procurement planning, lead times, and contract confidence, as the risk of a sudden disruption or collapse at British Steel is significantly reduced.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<p>Gareth Stace, director-general of <a href=\"https:\/\/www.uksteel.org\/\" target=\"_blank\" rel=\"noopener\">UK Steel<\/a>, said: \u201cWe strongly welcome the prime minister\u2019s announcement to legislate for the nationalisation of British Steel.<\/p>\n<p>\u201cThis provides vital certainty for the workforce, the company\u2019s customers and the wider supply chain at a critical moment. Steel is a foundation industry and a recognised strategic national asset. Maintaining domestic production capability for British Steel\u2019s products is essential not only for economic growth but also for our national security and resilience.<\/p>\n<p>\u201cNationalisation is not an end goal. This must now be the beginning of a clear and credible long-term plan for British Steel. We need to see a detailed investment strategy that supports a managed transition to low-carbon steelmaking, and broader action to tackle the sky-high energy prices in the UK, which are undermining the competitiveness of the steel industry.\u201d<\/p>\n<h3>Questions remain<\/h3>\n<p>As noted by Stace, this move should not be the final word, rather the beginning of its future. However, some issues will prove to be sticky, such as compensation for British Steel\u2019s soon-to-be former owner, Jingye.<\/p>\n<p>Peter Ware, partner and head of government at UK and Ireland law firm, Browne Jacobson, said: \u201cThis is one of the most significant acts of state intervention in British industry in decades. From a legal perspective, it raises substantial questions that will need careful navigation.<\/p>\n<p>\u201cFull nationalisation will require primary legislation addressing compensation for the former owner, governance structures and the transfer of employees, including TUPE-equivalent protections and pension obligations.<\/p>\n<p>\u201cThe compensation question is particularly complex. With the government having already committed over \u00a3400m in working capital, Jingye&#8217;s scope to claim substantial compensation may be limited, but legal challenges under bilateral investment treaties or domestic property rights principles cannot be ruled out.<\/p>\n<p>\u201cGiven there will be some financial exposure for the taxpayer, the governance model chosen will be critical to the venture&#8217;s long-term success \u2013 whether that is a public corporation, arm&#8217;s-length company or a vehicle designed to attract private co-investment.<\/p>\n<p>\u201cThis is also a moment with wider implications. Businesses, investors and public sector bodies operating in strategically sensitive sectors should take note \u2013 state intervention of this kind is very much back on the table.\u201d<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In a speech yesterday, the prime minister announced that the nationalisation of British Steel could be completed this week.<\/p>\n","protected":false},"author":32,"featured_media":161917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[908,276,431,32292],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-161900","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-planning-construction-news","8":"tag-economy","9":"tag-government","10":"tag-plant-equipment-supplies","11":"tag-steel"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PM announces plan to nationalise British Steel<\/title>\n<meta name=\"description\" content=\"In a speech yesterday, the prime minister announced that the nationalisation of British Steel could be completed this week\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/pm-announces-plan-nationalise-british-steel\/161900\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM announces plan to nationalise British Steel\" \/>\n<meta property=\"og:description\" content=\"In a speech yesterday, the prime minister announced that the nationalisation of British Steel could be completed this week\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/pm-announces-plan-nationalise-british-steel\/161900\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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