Chancellor Rachel Reeves has offered assurance to Scunthorpe’s steel industry about its promising future following her recent visit to the town. This optimistic prediction follows the enactment of an emergency law by MPs to transfer control of British Steel from its current owners, Jingye of China, back to the UK. This intervention occurs at a pivotal time, as the Scunthorpe plant was on the verge of closure due to a halt in the orders necessary for producing raw materials to drive its blast furnaces. Reeves stated, ‘We are now gearing up to move on to the next stage and secure steel production here in Scunthorpe for the forthcoming decades.’
This article was sourced from original coverage by www.bbc.com, adapted for The Lincoln Post.
