British Steel on track to be fully nationalised within weeks

UK plans to take economic control from Chinese owner Jingye a year after stepping in to run plant, sources say

British Steel is on track to be fully nationalised within weeks, the Guardian understands, a year after the government took over the daily running of the loss-making business from its Chinese owner.

The steelmaker, which employs 3,500 people at its plant in Scunthorpe, was taken under government control last April amid fears that the owner Jingye was planning to shut down the site.