The government has been paying 85% of the wages of 1300 steel workers previously employed by Speciality Steels UK. They are on furlough with their works closed. The company is in the hands of the Official Receiver. The government announced in September that it is proposing to nationalise the business, on four sites in Stockbridge, Rotherham, Brinsworth and Wednesbury. The works include an electric arc furnace for recycling old steel, and capacities to make specialist steels for the defence, aero and auto industries.
I am asking the government how much it has spent so far on keeping the workforce and on consultancies and the overheads of the mothballed plants.
I want to know when they might take it over.
When would it start production again?
Will it have any customers wanting product from the first day of production?
When will there be a Business Plan?
What is the budget for 2026-7 and 2027-8 for this venture?
How much has it cost so far?
Is this more money coming out of the steel budget which was meant to be for grants and advances to establish new electric arc capacity?