Business and Trade

I wish to make a statement on British Steel.

The Steel Industry (Nationalisation) Act 2026 grants powers to allow the Secretary of State to bring a steel company into public ownership where it is necessary in the public interest. Ministers must carefully consider the public interest test and the likely costs prior to exercising the powers. In the case of British Steel Ltd, it has important capability in the production of several essential steel products, which are integral to the construction and maintenance of our critical national infrastructure.

Given the financial challenges that the company is facing and has faced for some time, the Government’s assessment is that, without taking it into public ownership, where a plan could be developed for a sustainable future, there is a significant risk that it would fail and this capability would be lost. Such an outcome would directly disrupt the national rail network and increase supply chain risk for industry, including major infrastructure projects. It would reduce UK steelmaking capacity to around half of the requirements anticipated by 2035, leaving the UK vulnerable to volatility in international markets and international supply chains. All of these outcomes would be significant and difficult to reverse.

The Government’s assessment, based on the relevant factors, including cost considerations, is that it is necessary in the public interest to nationalise British Steel Ltd. We have not taken this decision lightly but we consider that it is the only viable route forward in these circumstances.

The Government have nationalised British Steel Ltd. Its transfer to public ownership took place this morning, using powers granted by the Steel Industry (Nationalisation) Act 2026.

Steel underpins the growth-driving sectors of the Government’s industrial strategy, and British Steel is among the largest steel producers in the UK. The decisive action taken today secures its immediate future, secures steelmaking in support of our steel strategy, and supports the jobs and steelmaking communities that have underpinned the business for decades.

Nationalisation brings to an end the temporary special measures that were applied under the Steel Industry (Special Measures) Act 2025, which secured the continued operations of Scunthorpe’s blast furnaces. The Government would like to place on record our appreciation for the continued dedication and professionalism of the company’s workers and management throughout this period of uncertainty.

Nationalisation brings stability to the firm and its workforce, and allows it to look forward, making steel in the national interest, owned by the people of this country. All business, jobs, customers and suppliers continue as normal through the transfer into public ownership.

I am today informing Parliament of a consultation on fireworks which has just been launched.

Millions of people enjoy fireworks responsibly as part of cultural, religious and community celebrations. There is an existing legal framework in place to address situations where fireworks and other pyrotechnics are misused. However, I am also aware of the concerns raised by charities, parliamentarians and members of the public about the impact of fireworks.

Many people have been in touch with me to share their own experience of how fireworks have affected them, their family, their animals, or their wider community. I am grateful to them for taking the time to set out their concerns. These accounts add valuable context alongside the data provided by local authorities, emergency services, animal welfare organisations and the fireworks industry.

In response, I am launching this consultation which proposes reforms to fireworks legislation. These proposals focus on addressing the key harms raised, particularly noise from non-professional fireworks displays and the contribution of fireworks to antisocial behaviour, while continuing to allow people to enjoy fireworks safely and responsibly, including as part of important community and cultural celebrations. Specifically, the consultation seeks to gather evidence and capture a wide range of views on proposals to:

Restrict the availability of the noisiest fireworks to the general public, with louder products only available to professional users.

Add products deemed to be carrying unacceptable risks to the existing list of banned pyrotechnic products.