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Home World Asia Pacific

Emergency law passed to force loss-making steel companies to keep operating

12 April 2025
in Asia Pacific
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Emergency law passed to force loss-making steel companies  to keep operating
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Emergency legislation was passed by the UK Parliament during a rare Saturday sitting, granting the government special powers to mandate that loss-making steel operations in England, particularly British Steel’s Scunthorpe works, remain operational or face criminal penalties for executives. This decision followed urgent discussions among Prime Minister Keir Starmer and cabinet ministers to avert the imminent collapse of the Scunthorpe steelworks, which risked shutting down its furnaces and resulting in significant job losses. Business Secretary Jonathan Reynolds will utilize these powers to ensure the facility continues to operate.

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Tags: companiesemergencyForceLawlossmakingoperatingPassedSteel
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