Why nationalising British Steel was the right thing to do - Chris McDonald
For thousands of workers and families across Yorkshire and the Humber, British Steel is far more than a company. It is a source of pride, skilled employment and economic security. Its success supports local businesses, supply chains and communities that have helped power Britain's industrial economy for generations.
I know what the steel industry means to communities like these. Before entering Parliament, I spent more than 20 years working in the industry. I have seen firsthand the skill, determination and pride of Britain's steelworkers.
That is why the Government has decided to bring British Steel into public ownership, making steel for the nation.
This was not a step we took lightly, but faced with the risk of losing steelmaking capability that is important to Britain's industrial strength, supply chains and critical infrastructure, standing back was simply not an option.
I know it is the public interest, the national interest, to nationalise British Steel. This action provides the stability needed to maintain production and give the business a future and put ownership in the hands of all the people in this country.
I understand that many people will be asking what this means for workers and their families.
Our focus is on securing a long-term future for British Steel and giving workers, suppliers and customers confidence in what comes next. Public ownership provides the stability needed to keep production going while we deliver our wider plan to rebuild a competitive and resilient steel industry for the future.
This action does not mean that every challenge facing the steel industry will disappear overnight, but what we can do now is provide certainty where there was uncertainty and create the conditions needed to plan for the future.
That future matters to those people directly employed by British Steel and to the wider economy. Businesses across Yorkshire and the Humber rely on a strong domestic steel sector. The jobs supported by steel extend far beyond any single place, reaching into local supply chains, engineering firms, construction transport and manufacturing businesses.
We also recognise the importance of British Steel to the local economy and remain committed to working closely with elected representatives as we consider the company's long-term future.
We will continue to engage with workers, trade unions, businesses and local leaders, and where support is needed we will work with partners to ensure it is available.
This is about more than securing stability today. It is also about creating the foundations for success tomorrow. We have taken action to lower energy costs and used trade measures to prevent steel dumping.
Through our Steel Strategy, we have set out a long-term plan to rebuild a competitive and resilient steel sector. We are backing the industry with up to £2.5bn this Parliament, tackling long standing barriers to competitiveness and creating the conditions for future investment.
Public ownership gives British Steel the stability to move forward while options for modernisation and long-term investment are considered.
Steel has helped build our country's prosperity. Our task now is to ensure that steelmaking communities across Yorkshire and the Humber continue to play a leading role in Britain's future, supporting good jobs, driving growth and strengthening our industrial resilience for generations to come.
Chris McDonald was appointed Minister for Industry in 2025.