There’s been mounting speculation that government ministers could nationalize the steelmaker, following owner Jingye’s decision to trigger a formal consultation to shut its Scunthorpe site last month — a move that puts 3,000 jobs on the line.Geoff Caddick/AFP via Getty Images

UK parliament to debate emergency British Steel rescue plan Saturday – POLITICO

· POLITICO

LONDON — The British parliament will be recalled on Saturday to debate emergency legislation placing British Steel under state control as the future of its Scunthorpe blast furnaces hangs in the balance.

There’s been mounting speculation that government ministers could take over the steelmaker, following Chinese owner Jingye’s decision to trigger a formal consultation to shut its Scunthorpe site last month — a move that puts 3,000 jobs on the line. 

MPs will meet at 11 a.m. — interrupting their Easter recess — to discuss “legislative proposals to ensure the continued operation of British Steel blast furnaces is safeguarded,” according to a statement issued by the House of Commons on Friday afternoon.