Topic
public ownership
UK Government Brings British Steel Under Public Ownership, Secures Steelmaking Future
The UK government has nationalised British Steel, taking control of the Scunthorpe steelworks to secure domestic steelmaking. The move follows years of uncertainty and financial losses, with the plant losing £700,000 per day under Chinese owner Jingye Group. The government's intervention ensures continued production of virgin steel for critical infrastructure.
Business Thames Water Moves Closer to Nationalisation After Government Objects to Rescue Deal
The UK government has formally objected to a proposed rescue deal for Thames Water, moving the struggling utility closer to nationalisation. Environment Secretary Emma Reynolds raised concerns over the lenders' package, which the government says fails to protect consumers and the environment. Without an alternative, Thames Water could face a special administration regime within months.