The UK government has admitted nationalising British Steel is one option open to it if its efforts to rescue the Chinese-owned company fail in the coming months.
But officials insist that taking the business into public ownership — whether as a permanent or temporary move — was ministers’ least preferred route as they try to strike a deal with owner Jingye to keep it going.
Nationalisation “is one of several options we have considered”, said one government figure. “But it is not being progressed at this stage.”
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