Liberty Steel nationalisation ‘an option’ to save jobs, says UK govt

Business Secretary Kwasi Kwarteng has been in crisis talks with the firm since the collapse of its biggest lender, Greensill Capital, put nearly 5,000 jobs at risk

Topics

UK govt | Liberty House | Steel Industry

Sanjeev Gupta Executive chairman, Liberty Stell Group

Sanjeev Gupta

The UK government has not ruled out the prospect of nationalisation as it confirmed all options remain on the table to save British jobs at Liberty Steel, the firm led by British-Indian tycoon Sanjeev Gupta.

Business Secretary Kwasi Kwarteng has been in crisis talks with the firm since the collapse of its biggest lender, Greensill Capital, put nearly 5,000 jobs at risk.

He said while Liberty Steel is a “really important national asset”, it was important to distinguish between the steel business and its parent firm, the Gupta Family Group Alliance.

“All options are on the table. The steel industry has a future in the UK,” Kwarteng told the BBC.

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First Published: Tue, March 30 2021. 23:55 IST