Ministers said to be considering bill to wipe out British Steel’s debts

Chinese owner owed almost £1bn as government weighs up how best to attract buyer for Scunthorpe worksBusiness live – latest updatesMinisters are reportedly considering legislation to relieve British Steel of debts that have risen to nearly £1bn, as the government considers how best to prepare the Scunthorpe steelworks for sale.The government took control of the business last month after it said its Chinese owner, Jingye Steel, planned to close the plant within days. The move required emergency legislation that was passed in a historic recall of parliament. Continue reading...

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