Parliament to be recalled to debate nationalising beleaguered British Steel as PM says its future ‘hangs in balance’

MPs will be recalled to the House of Commons to discuss the future of British Steel on Saturday, including potentially nationalising the beleaguered firm.

Talks have been ongoing in a bid to secure the future of British Steel and prevent heavy job losses.

The Chinese owner of the Scunthorpe-based business plans to close the blast furnaces and switch to a greener form of production.

Parliament closed for the Easter recess on Tuesday, but MPs will be recalled on Saturday to discuss plans for the company.

Ministers have said all options are on the table for its future, including nationalisation, over concerns its closure would leave the UK without any domestic virgin steel makers.

It is the first recall of parliament on a Saturday since 1982, when MPs returned after the Falklands War began, and signals a major announcement to come from the government.

Business and trade Secretary Jonathan Reynolds and officials met with the chief executives of Jingye and British Steel on Wednesday for discussions on steelmaking in Scunthorpe.

A statement after the meeting said “both sides welcomed continued cooperation in talks to find a way forward”.

Talks were set to resume on Friday, with the government coming under mounting pressure to nationalise the plant.

The Saturday sitting will begin at 11am, when MPs will debate "legislative proposals to ensure the continued operation of British Steel blast furnaces is safeguarded", according to the office of Sir Lindsay Hoyle, the Commons Speaker.

In a letter to MPs, Sir Lindsay said he was satisfied the "public interest" requires the recall.