{"id":35387,"date":"2026-05-13T11:40:07","date_gmt":"2026-05-13T11:40:07","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/35387\/"},"modified":"2026-05-13T11:40:07","modified_gmt":"2026-05-13T11:40:07","slug":"uk-faces-multi-billion-pound-bill-for-nationalizing-british-steel-politico","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/35387\/","title":{"rendered":"UK faces multi-billion pound bill for nationalizing British Steel \u2013 POLITICO"},"content":{"rendered":"<p>\u201cUltimately, we have to find a way to do that transformation in Scunthorpe,\u201d Industry Minister Chris McDonald told POLITICO in an interview last December, explaining British Steel \u201cneeds to be decarbonized.\u201d<\/p>\n<p>McDonald said he\u2019s \u201cbeen clear that we expect that transformation to be a partnership between government and the private sector.\u201d\u00a0<\/p>\n<p>Merger push<\/p>\n<p>The government is now left holding an asset long past its end of life with little to whet the appetites of potential buyers.<\/p>\n<p>With the EU\u2019s carbon border tax and <a href=\"https:\/\/pro.politico.eu\/news\/217419\" target=\"_blank\" rel=\"nofollow noopener\">new steel quotas in Brussels<\/a> factoring into its future commercial appeal, \u201ceverything has to align policy-wise to make investment attractive,\u201d said a second steel industry figure.\u00a0<\/p>\n<p>Many in the steel industry see a way forward to appeal to investors if the government shoulders British Steel\u2019s liabilities and merges the firm with Speciality Steel UK (SSUK), which has arc furnaces, after the government took control of the <a href=\"https:\/\/libertysteelgroup.com\/uk\/\" target=\"_blank\" rel=\"nofollow noopener\">former Liberty Steel Group<\/a> as it entered liquidation last year.\u00a0<\/p>\n<p>\u201cLiberty has got the biggest electric arc furnace at the moment. The aerospace, defense and oil and gas sectors are selling well. It would make sense to put them together as an asset,\u201d said a third steel industry figure. When it comes to national security, \u201cyou would want speciality steels in your artillery.\u201d<\/p>\n<p>\u201cThere may be some opportunity to tie the two plants together,\u201d the first industry figure said. \u201cIt&#8217;s definitely worth looking at.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cUltimately, we have to find a way to do that transformation in Scunthorpe,\u201d Industry Minister Chris McDonald told&hellip;\n","protected":false},"author":2,"featured_media":35388,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[10250,16398,1353,16399,5962,1358,7425,1360,501,502,371,94,186,160,225,9235,460,505,73,1426,168,5,6],"class_list":{"0":"post-35387","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"tag-aerospace","9":"tag-artillery","10":"tag-borders","11":"tag-carbon-border-tax","12":"tag-construction","13":"tag-defense","14":"tag-department-for-business-and-trade","15":"tag-elections","16":"tag-imports","17":"tag-industry","18":"tag-investment","19":"tag-keir-starmer","20":"tag-kemi-badenoch","21":"tag-markets","22":"tag-oil","23":"tag-ports","24":"tag-security","25":"tag-steel","26":"tag-tax","27":"tag-technology","28":"tag-trade","29":"tag-uk","30":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116567082429178907","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/35387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=35387"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/35387\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/35388"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=35387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=35387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=35387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}