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Government Has Spent £377m With No Exit Plan
Summary by European Business Magazine
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Government Has Spent £377m With No Exit Plan
Quick Answer: The UK government has spent £377 million keeping British Steel’s Scunthorpe blast furnaces running since its emergency intervention in April 2025, at a cost of £1.3 million per day with no set budget, repayment schedule or end date. The National Audit Office warns costs could reach £615 million by June 2026 and exceed £1.5 billion by 2028. Full nationalisation — which the government has so far resisted — is increasingly the only re…
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