To ask His Majesty's Government what discussions they held with Jingye to agree terms of nationalisation of British Steel.

To ask His Majesty's Government what discussions they held with Jingye to agree terms of nationalisation of British Steel.

My Hon Friend the Parliamentary Under-Secretary of State (Minister for Industry) (Chris McDonald MP) has today made the following statement.

The public interest test

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...

My Hon Friend the Parliamentary Under-Secretary of State (Minister for Industry) (Chris McDonald MP) has today made the following statement.

The public interest test

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 test

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...

The public interest test

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...

Letter dated 24/06/2026 from Lord Leong to Peers who spoke in the second reading of the Steel Industry (Nationalisation) Bill: questions raised during the debate: costs, failure of Scunthorpe, public interest, liabilities of British Steel, Trade, tariffs, and international considerations, Banking Act 2009 as precedent, and negotiations with Jingye. 5p.

Letter dated 24/06/2026 from Lord Leong to Peers who spoke in the second reading of the Steel Industry (Nationalisation) Bill: questions raised during the debate: costs, failure of Scunthorpe, public interest, liabilities of British Steel, Trade, tariffs, and international considerations, Banking Act 2009 as precedent, and negotiations with Jingye. 5p.

To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of Jingye Group having initiated procedures to claim compensation following the Government's takeover of British Steel via the Investor-State Dispute Settlement provisions in the UK–China Bilateral Investment Treaty on the public...

To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of Jingye Group having initiated procedures to claim compensation following the Government's takeover of British Steel via the Investor-State Dispute Settlement provisions in the UK–China Bilateral Investment Treaty on the public...

Lords second reading. Agreed to on question. Bill committed to a Committee of the Whole House.

Lords second reading. Agreed to on question. Bill committed to a Committee of the Whole House.

My Lords, steel is a historic British industry at the heart of our national story. For generations, steelworkers have forged not only steel but Britain’s prosperity. From Scunthorpe to Sheffield, from Port Talbot to Teesside, steel communities have powered our industrial success, strengthened our economy and contributed immeasurably to our

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My Lords, steel is a historic British industry at the heart of our national story. For generations, steelworkers have forged not only steel but Britain’s prosperity. From Scunthorpe to Sheffield, from Port Talbot to Teesside, steel communities have powered our industrial success, strengthened our economy and contributed immeasurably to our

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On a point of information—

On a point of information—

We do not do points of information at Second Reading.

We do not do points of information at Second Reading.

I will continue. In developing this legislation, we have drawn heavily on the framework established by the Banking Act 2009, adapting well-established precedents, rather than creating entirely new mechanisms. The principal transfer powers are subject to a sunset clause and will expire two years after Royal Assent. This ensures that...

I will continue. In developing this legislation, we have drawn heavily on the framework established by the Banking Act 2009, adapting well-established precedents, rather than creating entirely new mechanisms. The principal transfer powers are subject to a sunset clause and will expire two years after Royal Assent. This ensures that...

My Lords, I start by congratulating the Minister on his appointment last Friday as Parliamentary Under-Secretary of State at

the Department for Business and Trade. He has a long established and proven track record of success in business. I hope that his voice will be heard loud and clear within...

My Lords, I start by congratulating the Minister on his appointment last Friday as Parliamentary Under-Secretary of State at

the Department for Business and Trade. He has a long established and proven track record of success in business. I hope that his voice will be heard loud and clear within...

My Lords, I thank the noble Lord, Lord Leong, for introducing this debate, and I too congratulate him on his well-deserved appointment as a Minister. This Steel Industry (Nationalisation) Bill is a government Bill, and it will provide powers to nationalise any company involved in steel manufacturing where that is...

My Lords, I thank the noble Lord, Lord Leong, for introducing this debate, and I too congratulate him on his well-deserved appointment as a Minister. This Steel Industry (Nationalisation) Bill is a government Bill, and it will provide powers to nationalise any company involved in steel manufacturing where that is...

My Lords, I too offer my warm congratulations to my noble friend the Minister on his appointment. I strongly welcome this Bill for the simple reason that our country must have a sovereign capability to make steel, and I commend the Government on acting swiftly. Taking powers to nationalise in...

My Lords, I too offer my warm congratulations to my noble friend the Minister on his appointment. I strongly welcome this Bill for the simple reason that our country must have a sovereign capability to make steel, and I commend the Government on acting swiftly. Taking powers to nationalise in...

My Lords, I congratulate the Minister on his appointment. I am also very grateful to the Minister for his honest account of this legislation, where he made it very clear that it is very likely that the strong powers in this legislation will be used sometime soon fully to nationalise...

My Lords, I congratulate the Minister on his appointment. I am also very grateful to the Minister for his honest account of this legislation, where he made it very clear that it is very likely that the strong powers in this legislation will be used sometime soon fully to nationalise...

My Lords, I congratulate my noble friend Lord Leong, both on his ministerial appointment and on his opening speech. I also give

full support to the Government for doing their best to protect and modernise a strategic industry that has suffered from past failures to adapt and from short-termism and...

My Lords, I congratulate my noble friend Lord Leong, both on his ministerial appointment and on his opening speech. I also give

full support to the Government for doing their best to protect and modernise a strategic industry that has suffered from past failures to adapt and from short-termism and...

My Lords, I congratulate the Minister on his promotion and thank him for his very clear opening statement. The problem we have today is that we are looking at a Bill that is important in its own right but is only one part of a much bigger problem: can we...

My Lords, I congratulate the Minister on his promotion and thank him for his very clear opening statement. The problem we have today is that we are looking at a Bill that is important in its own right but is only one part of a much bigger problem: can we...

My Lords, when the Government took powers to take control of British Steel’s operations last year, they were clear that they had no intention of nationalising it. Now nationalisation is the name of the game. This pivot has nothing to do with the Government’s failure to reach an agreement with...

My Lords, when the Government took powers to take control of British Steel’s operations last year, they were clear that they had no intention of nationalising it. Now nationalisation is the name of the game. This pivot has nothing to do with the Government’s failure to reach an agreement with...

I begin by congratulating my noble friend Lord Leong on his debut in this debate. It was a very good one as well, and we look forward to similar contributions in the future. I welcome the Bill. I welcome it because, first, there has been almost unanimity in this debate...

I begin by congratulating my noble friend Lord Leong on his debut in this debate. It was a very good one as well, and we look forward to similar contributions in the future. I welcome the Bill. I welcome it because, first, there has been almost unanimity in this debate...

My Lords, this enabling Bill paves the way for a possible nationalisation of steel companies, with a particular emphasis on British Steel, currently owned by the China-based Jingye Group. This nationalisation may or may not happen—we have to wait and see. The Bill allows the Government to transfer the shares...

My Lords, this enabling Bill paves the way for a possible nationalisation of steel companies, with a particular emphasis on British Steel, currently owned by the China-based Jingye Group. This nationalisation may or may not happen—we have to wait and see. The Bill allows the Government to transfer the shares...