The UK Government has published an impact assessment of its Steel Industry (Special Measures) Bill 2025, which sets out the rationale, expected impact and financial implications of emergency powers aimed at maintaining strategic steel capacity in the UK.
Purpose of the Bill
Steel Industry (Special Measures) Bill 2025 provides the Secretary of State for Business and Commerce with targeted emergency powers to direct the continued use of strategic steel assets, such as blast furnaces, where there is a risk of closure and where their ongoing operation is considered to be in the public interest. These powers may include intervening to act on behalf of the steel plant, entering into agreements or appointing officers to maintain safe steel production capacity. The regime is intended to be used as a last resort in exceptional circumstances and is not limited in time.
Without these powers, the Impact Assessment notes that traditional market forces could lead to the permanent closure of key steel assets, undermining industry resilience and strategic supply chains. The closure of facilities such as blast furnaces will reduce the UK's ability to produce critical grades of steel domestically.
Fiscal costs and financial considerations
The impact assessment highlights the short-term impact on public finances, including the potential cost of up to £195 million a year associated with maintaining operations under special measures. These
There are no comments yet.