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UK government confirms continued British Steel support, to publish national steelstrategy in 2026-Fastener Exhibition-The 26th China(Guangzhou)International Fastener,Spring&Wire Exhibition
12/16/2025 緊固件展-彈簧展-線材展-fastener expo-wire expo-spring expo |
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The UK government has reaffirmed its commitment to supportina the local steelmaker British Steel under theSteel industry (Special Measures) Act 2025, confirming ongoing financial backing, regular parliamentaryoversight and a clear timeline for a national steel strategy.
British steel under special measures
According to the Parliamentary Under-Secretary of Statefor Business and Trade Chris McDonald, a centralpriority remains the safe and continuous operation ofBritish Steel''s blast furnaces. Government officials arecontinuing to provide on-site support in Scunthorpe.ensuring uninterrupted domestic steel production whileoverseeing the appropriate use of public funds.
Funding position and budget framework
The government confirmed that all funding for British Steel is being drawn from existing budgets. To date, approximately f274 milion has been provided as workingcapital. This funding has covered:
Procurement of raw materials
Payment of employee salaries
Settlement of unpaid bills, including amounts owed to SMEs within the supply chain
These expenditures will be recorded in the Department for Business and Trade''s accounts for the 2025-26financial year.
UK steel strategy to be revealed in early 2026
The government reiterated its commitment to supporting the UK steel sector and confirmed that a national steelstrategy will be published in early 2026. A robust trade policy will be a core pillar of the strategy, aimed at:
Defending the domestic industry against unfair trade practices
Developing new measures against global steel overcapacity
。Preparing for the expiry of UK steel safeguard measures in 2026
Ensuring balanced import levels while engaging with international partners
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