Government brings British Steel under public ownership; oil price rises to $85 as US-Iran tensions escalate – as it happened
The Guardian16 Jul 2026Macro
Automatically composed with AI from the cited sources
The Steel Industry (Nationalisation) Act received royal assent on Wednesday 15 July 2026, enabling the formal transfer of British Steel from Jingye to state ownership fifteen months after the government’s emergency parliamentary intervention prevented the Scunthorpe plant’s closure and the loss of 4,000 jobs.