Ministers poised to nationalise second steel firm

The UK government is set to nationalise Speciality Steel UK (SSUK), the country's third-largest steelworks, after efforts to find a private buyer failed. Business secretary Jonathan Reynolds confirmed that ministers will utilise recently ratified legislation to prevent the firm's failure. This move aims to protect 1,300 jobs across Rotherham, Stocksbridge, Brinsworth, and Wednesbury. SSUK, previously part of Sanjeev Gupta’s empire, entered administration last year before the government decided to pursue public ownership of the company.