Overview
- The National Audit Office says the government has spent £377m keeping British Steel’s Scunthorpe blast furnaces running between April 2025 and January 2026.
- Of that total, £15m went on advisers and £359m funded operating needs such as raw materials and payroll, with support classified by DBT as a loan.
- Ongoing operations are costing about £1.3m per day, with no set budget, end date or repayment schedule in place, according to the report.
- NAO projections indicate spending is expected to reach about £615m by June and could top £1.5bn in 2028 if current costs persist.
- DBT used emergency powers last April to avert closure and protect thousands of jobs and key customers such as Network Rail, while talks to compensate owner Jingye and formally transfer ownership remain unresolved, with one report citing a proposed offer below £100m.