The government has indicated that nationalisation is among the potential options to secure the future of steelmaking in Scunthorpe. British Steel has proposed closing two crucial blast furnaces, risking thousands of jobs. Business minister Sarah Jones emphasized discussions are ongoing with the Chinese owner, Jingye, amid concerns about raw material orders. Local MP Martin Vickers has advocated for temporary nationalisation to keep operations viable, highlighting urgent negotiations around maintaining supply. Meanwhile, the government offered £500 million for greener production technologies, against Jingye's expectations of £1 billion funding.
The best way forward is for Scunthorpe and British Steel to continue as a commercially run business, but I can tell him that no options are off the table.
Nationalisation on a temporary basis is the only solution to keep the furnaces burning come the middle of next month.
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