Industrial town in Lincolnshire, home to Britain’s last steelworks
Public ownership has been extended to Britain’s Scunthorpe steelworks as Parliament passes the Steel Industry (Nationalisation) Bill, with ministers arguing the move protects jobs, security of supply, and national infrastructure. The measure allows transfer of shares or assets into state control to stabilise the business and promote a decarbonised steel sector.
The UK-India Free Trade Agreement will enter into force on July 15, delivering immediate tariff cuts and a boost to exporters and consumers. Ministers say the deal will improve GDP, wages and bilateral trade in the long run, with firms urged to register to access tariff relief.
Britain has finalised a new steel imports regime to protect domestic producers from global overcapacity. Tariff-free imports will be cut by 51%, with a 50% tariff on goods outside the quota. The measures align with the EU’s approach to counter overcapacity, while allowing a limited volume of imports from 11 specific products to be exempt from tariffs. The changes are to take effect on 1 July and will be reviewed after 12 months.