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'British Steel employs thousands in good jobs - it now belongs to the British people'

Business and Trade Secretary Peter Kyle writes for The Mirror as the government brings British steel into public ownership to 'protect jobs and help boost the economy'

[British Steel's Scunthorpe plant ]

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British Steel's Scunthorpe plant (Image: AFP via Getty Images)

Steel runs through Britains story. It built our railways, our factories, our bridges and the towns that powered our industrial strength. In places like Scunthorpe, it is not just an industry it is skilled work, community pride and a foundation of our national resilience.

That is why this government has acted to bring British Steel into public ownership.

This is not a step any government takes lightly. Faced with the risk of losing steelmaking capability that is vital to our economy, our supply chains and our critical national infrastructure our airports, our hospitals, our power stations I was clear that sitting back was not an option.

This is what an activist state looks like: taking bold decisions in the national interest.

British Steel is one of the countrys biggest steel producers, employing thousands of local people in good jobs and supporting many more in supply chains. It is absolutely crucial in maintaining the production capability Britain needs for the future.

Without it, our industrial base would be severely weakened and our country overexposed to global shocks.

So, having carefully considered the public interest in nationalising British Steel, we have made our decision. British Steel now belongs to the British people.

Our first priority is stability. That means maintaining production, supporting the workforce, and giving the business the leadership and certainty it needs to move forward. But this is not just about managing todays challenges. It is about building a stronger future for British Steel.

For too long, steel communities have been left facing decline, uncertainty and crisis-driven interventions.

Global overcapacity, high operating costs and underinvestment have made life harder for businesses here in Britain. Workers and their families have paid the price for an approach that too often waited until the last possible moment before acting.

This Government is doing things differently. Through our Steel Strategy, the first of its kind, we have put forward a long-term plan to rebuild a competitive, modern steel sector.

We are backing steel with up to 2.5 billion, taking action on electricity costs, shoring up trade protections against unfair competition, and supporting the move to cleaner, greener steelmaking.

Public ownership gives British Steel the breathing space to stabilise and modernise.

It allows us to work with management, trade unions and employees on a serious plan for a commercially sustainable, low-carbon future, while looking to secure private investment over the longer term.

I know people will ask whether this was a good use of public money. The answer is that the cost of doing nothing would have been far greater: lost jobs, weakened supply chains, damaged communities and reduced national self-reliance in a material that drives our economy forward, whether its our infrastructure, defence or our clean energy future.

This is about more than one company. It is about whether Britain is serious about making things again. It is about reindustrialising our country, backing working people, and ensuring the towns that built Britain are at the heart of shaping what comes next.

Steel built Britains past. With the right plan, the right investment and the right ambition, British Steel can help build our future too.

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