Reports: British Steel inches closer to £600m bailout deal for Scunthorpe steelworks

Cecilia Keating
clock • 3 min read
Scunthorpe steelworks | Credit: iStock
Image:

Scunthorpe steelworks | Credit: iStock

Reports over weekend claim Labour government has 'signalled a new intent' to unlock investment in low carbon electric arc furnace production at British Steel site

British Steel is reportedly inching closer to a £600m bailout deal with the British government that would jumpstart the decarbonisation of its steelmaking operations in Scunthorpe. Over the weekend,...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Policy

Government must level the playing field for the clean heat industry – or risk leaving UK homes out in the cold

Government must level the playing field for the clean heat industry – or risk leaving UK homes out in the cold

The Warm Homes Plan is a crucial opportunity to make the most of a range of innovative, low-carbon technologies to decarbonise homes at scale, writes Lib Dem MP Wera Hobhouse

Wera Hobhouse MP
clock 26 November 2025 • 3 min read
Government unveils plans to slash electricity costs for over 7,000 businesses

Government unveils plans to slash electricity costs for over 7,000 businesses

Consultation launched on British Industrial Competitiveness Scheme, which promises to cut power costs by a quarter for key strategic industries

James Murray
clock 24 November 2025 • 4 min read
Government launches Critical Minerals Strategy to protect 'backbone of modern life'

Government launches Critical Minerals Strategy to protect 'backbone of modern life'

Sweeping new strategy aims to tackle overreliance on imports of critical minerals for clean technologies by ramping up domestic production and boosting recycling rates

clock 24 November 2025 • 5 min read