15:19

Britain’s second largest steel firm has asked the government for emergency funding to prevent it from collapse, blaming “Brexit-related issues”.

British Steel, which employs 4,500 people at its Scunthorpe steelworks and several sister sites, is understood to be in talks with its lenders and the government over a £75m rescue package.

A spokesperson for the Department of Business, Energy and Industrial Strategy said they could not comment on speculation about injecting fresh funds.



But a British Steel spokesperson said:

“As we have previously commented, the uncertainties around Brexit are posing challenges for all businesses including British Steel, and we are holding constructive discussions with our stakeholders on how to navigate them.

Rob Davies (@ByRobDavies) BEIS refusing to comment on British Steel asking for government to stump up cash as part of a £75m rescue package, saying it's just speculation.



Meanwhile British Steel says "discussions are continuing about a package of additional support".

This comes just days after the government lent British Steel £120m to cover its bill for an EU climate credits scheme.