AssetID: 55856092
Headline: UNCAPTIONED: British Steel Taken Into Public Ownership
Caption: British Steel Taken Into Public Ownership. British Steel has been taken into public ownership as the government moves to protect the future of steel production in the UK. Prime Minister Keir Starmer said the decision would safeguard skilled jobs, secure Britain's steelmaking industry and protect a vital national capability. The Scunthorpe steelworks employs around 2,700 people and supports thousands of jobs across north Lincolnshire. The government took operational control of the business last year, although it remained owned by China's Jingye Group until now. Jingye has previously said the company was losing around 700,000 pounds a day and has begun seeking compensation following the nationalisation. The government says the move is designed to strengthen British industry and secure the long-term future of domestic steel production. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,British Steel,taken into public ownership,government,United Kingdom,protect,future,production,safeguard,skilled jobs,steelmaking,industry,national capability,Scunthorpe,Lincolnshire
PersonInImage: