UK took control of British Steel before assessing costs to taxpayers, letters show

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Financial Times 22h ago

UK took control of British Steel before assessing costs to taxpayers, letters show - Financial Times

Quick Summary:

Government spending tests require that the cost of the intervention is compared with alternative proposals or “doing nothing” to check that it represents “value for money”.

Reynolds subsequently oversaw the delivery of raw materials to British Steel’s Scunthorpe site to ensure the continued operation of the two furnaces.

Ministers intervened in early April by passing emergency legislation to seize control of British Steel, which employs about 3,500 people in the UK, including 2,700 at Scunthorpe.