The Labour Party has called on the government to take a public stake in British Steel if necessary to protect jobs and support the UK’s infrastructure and renewable energy systems.

Jeremy Corbyn MP, Leader of the Labour Party, said:

“The collapse of British Steel would have a devastating impact on thousands of jobs in Scunthorpe, and could have major knock on effects on wider supply chains.

“Once again, our communities are being betrayed by a Tory government whose free market obsession is threatening Britain’s vital manufacturing base – just as they were under Margaret Thatcher.

“Britain’s proud steel industry has a major role to play in ushering in a Green Industrial Revolution, securing British manufacturing for a sustainable, green future. It needs support, not a death warrant.

“If an agreement cannot be struck with British Steel, the government must act to take a public stake in the company to secure the long term future of the steelworks and protect peoples’ livelihoods and communities.”