Parliament Approves Emergency Powers to Seize Control of British Steel

Why did the UK rush to save British Steel and what happens next?

The government now has the tricky task of running a costly and complex industrial operation

Reynolds: It Was Vital to Move Swiftly to Take Control of Scunthorpe From Chinese Owners

British Steel: Trade Minister Jonathan Reynolds is given the power to direct the company's management and employees under the passed law.

British steel saved at last minute

A dramatic emergency session of the UK Parliament was called on Saturday, April 12, for MPs and peers to pass the Steel Industry (Special Measures) Bill to secure the future of British Steel. The last-minute decision to drag MPs back to Westminster was prompted by Chinese owner Jingye’s attempt to shut down the site’s two remaining blast furnaces at the Scunthorpe plant. The emergency law grants… Source

According to its Chinese owner, the steel plant in Scunthorpe in England is no longer profitable. In the fast run, a law is passed to prevent the closure.

Actually, the British Parliament was already in the Easter break. Why the Members had to return from the holidays earlier - and what Donald Trump indirectly has to do with it.