Industrial town in Lincolnshire; site of the UK’s last virgin steel plant under state ownership
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.
The government has taken British Steel into public ownership to protect steel production in the UK, secure thousands of jobs, and safeguard national infrastructure. Parliament has enacted new powers allowing state intervention, with ministers aiming to stabilise the plant, back communities, and modernise the sector toward green steelmaking.
The Department for Business and Trade has nationalised British Steel to secure steelmaking in the UK, protect thousands of jobs, and maintain a vital national capability. An independent evaluation will determine compensation for the former owner, Jingye Group, as production continues at Scunthorpe.
The UK has nationalised British Steel to protect jobs, supply chains and national security. Jingye Group seeks compensation for losses, arguing the move breaches investment protections. China says it will monitor developments and defend its interests.
The UK government has taken operational control of British Steel to safeguard national capability and jobs, after Jingye Group warned of closing its Scunthorpe plant. The move has sparked a dispute over compensation, with Jingye seeking redress under bilateral investment agreements and China warning of measures to protect its interests.