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MPs set for emergency steel crisis debate in Commons

MPs are set to hold an emergency debate to discuss the current steel industry crisis facing the UK as the future of British steel continues to 'hang in the balance'.

It comes as the Government said on Monday it could look at the possibility of co-investing with a steel buyer "on commercial terms" to help secure a sale.

Business Secretary Sajid Javid said the "Government stands ready to help" as he addressed the Commons on the issue after Tata Steel announced a deal with Greybull Capital to buy its Scunthorpe plant and save 4,400 UK jobs but no deal was yet secured for other UK plants.

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Javid: Nationalisation is not the answer for Port Talbot

Business Secretary Sajid Javid said the government will look at "all viable options" to keep steelmaking at Port Talbot but that "nationalisation is not the answer".

I don't think nationalisation is going to be the solution because I think that everyone would want a long-term viable solution and if you look around Europe and elsewhere, nationalisation is rarely the answer particularly if you take into account the challenges the industry faces.

– Business Secretary Sajid Javid

He said it was "too early to tell" what options were on the table and said that the government has been in a number of discussions with Tata to work "constructively" to secure the long-term future of the steel industry.

Defending his trip to Australia when thousands of British jobs were on the line, he said it was a "long-standing arrangement" and he continued to keep abreast of the situation with Tata Steel.

He added: "I've always been absolutely clear that if it's necessary and helpful for me to be back in London to help with this and help look at the options, that is exactly what I'd do and that is why I'm cutting my trip short."

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MPs set for emergency steel crisis debate in Commons

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