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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: Tata to formally launch sale by Monday

Tata Steel intend to formally launch the sale by Monday, the business secretary said.

Sajid Javid met with the chairman of Tata Steel today in Mumbai as he attempts to find a solution to the collapse of the UK steel industry.

Javid said the UK government "will do everything it can to support a serious buyer in every way we can to secure a long term future of this industry".

Tata have not set a timeframe for the sales process, Javid added, but the company will allow a "reasonable amount of time".

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