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Parliament is set to reconvene on Saturday to discuss emergency legislation concerning the future of British Steel, as government officials work urgently to prevent the company’s potential collapse and the subsequent loss of 3,500 jobs.
The Speaker of the House of Commons, Sir Lindsay Hoyle, announced on Friday that he had approved a request for a recall of Members of Parliament to address legislative proposals aimed at safeguarding the continued operation of British Steel’s blast furnaces.
Throughout the week, discussions have been ongoing between government ministers and the Jingye Group, the Chinese company that owns British Steel.
Last month, Jingye Group issued a warning indicating that British Steel’s two remaining blast furnaces—Britain’s last—are no longer financially viable, prompting the start of job loss consultations.
Government ministers have indicated that they are considering all possible options, including nationalization. If the furnaces at the Scunthorpe plant were to close, the UK would become the only G7 nation unable to produce steel from raw materials.
This situation is currently developing.