UK Nationalises British Steel

The United Kingdom government has taken British Steel into public ownership to protect the country’s only remaining virgin steelmaking plant after years of uncertainty.

The move expropriates the Chinese-owned Jingye Group, which had controlled the company.

China reacted with ‘strong dissatisfaction’, warning the nationalisation damaged confidence in investing in Britain.

The decision forms part of a broader industrial strategy aimed at safeguarding strategic domestic manufacturing assets.