Written question asked by Harriett Baldwin (Conservative) on Thursday, 9 July 2026, in the House of Commons. It was due for an answer on Tuesday, 14 July 2026 (named day). It was answered by Chris McDonald (Labour) on Tuesday, 14 July 2026 on behalf of the Department for Business and Trade.

Iron and Steel: Subsidies

Question: To ask the Secretary of State for Business and Trade, what estimate he has made of future operating subsidy requirements for publicly owned steel assets.

Answer: Generally, any financial assistance to public owned steel assets would, among other things, be time-limited, targeted and proportionate to the Government's objectives, and meet our responsibilities under subsidy control rules. The finances of Forgemasters, which is publicly owned, are a matter of public record through its annual report. The Steel Industry (Nationalisation) Bill is completing its passage through Parliament and so no transfers to public ownership have been made under the powers proposed in that bill.

Secondary information