The UK has nationalised British Steel in an effort to protect the future of steel ​production in the country, the government said in a statement ‌on Thursday, completing a takeover of what was a Chinese-owned company.

The government said bringing British Steel into public ownership was necessary to protect the UK’s national interest.

“British ​Steel is part of the fabric of our nation and ​a cornerstone of Britain’s industrial strength. Today’s decision secures the ⁠future of steelmaking in the UK, protects skilled jobs and safeguards ​a vital national capability,” outgoing Prime Minister Keir Starmer said.

The government seized operational ​control of British Steel from its Chinese owners, Jingye, in April 2025 to stop the closure of the steelworks in Scunthorpe in northern England and protect 2,700 jobs ​at the plant and thousands more in the supply chain.

The plant, ​the country’s last remaining primary steelmaking site, supplies the rail, construction, and automotive industries, ‌but ⁠has in recent years struggled with high energy costs in Britain and a glut of steel in the global market.

In May this year, after the state failed to find a buyer for the company that ​was privatised under ​Margaret Thatcher in ⁠1988, Starmer said his government would bring in legislation to allow it to take ownership.

The government has appointed a ​new leadership team which will focus on stabilising ​operations, managing ⁠health and safety, maintaining production, and working with management, trade unions and staff to make British Steel a commercially sustainable, low-carbon enterprise, it said.

“British ⁠Steel now ​belongs to the British people, and our ​focus is on the future,” Secretary of State for Business and Trade Peter Kyle said.