Will British Steel Be Nationalised? Uk Parliament To Decide After Emergency Session

UK lawmakers will be recalled from their Easter break to hold an emergency session on the future of the British Steel, officials said Friday, with the government likely to take over the struggling company.

MPs will take part in a rare weekend sitting of parliament on Saturday to discuss legislation giving the Labour administration 'the power to direct steel companies' in England, a Downing Street spokesperson said.

A person familiar with the matter told AFP that this would mean the government taking over the running of the Chinese-owned company. The BBC reported parliament could then be asked to nationalise the company at a later session.

The Downing Street spokesperson said the bill will be used to 'protect' British Steel's plant in Scunthorpe, eastern England, which is just weeks away from possible closure.