The British Steel works in Scunthorpe, UK, is poised for nationalisation as Labour leader Keir Starmer announced plans to bring the plant under public ownership. This move follows a tumultuous history marked by multiple ownership changes, including its current nominal owner, Jingye Steel, which has struggled to turn a profit, losing £350 million since 2025. The government aims to preserve the 2,700 jobs at risk and ensure the UK can produce its own steel amid rising international tensions and competition from cheaper imports, particularly from China. With plans to shift to cleaner electric arc furnaces, the government is prepared to invest hundreds of millions of pounds to modernise the facility. Potential investors, including turnaround specialist Michael Flacks and the Czech firm Sev.en Global Investments, have expressed interest in the future of British Steel, which currently employs 4,000 people. However, the transition will require careful management to maintain jobs during the upgrade process.