Watchdog Warns of Uncertain British Steel Funding Costs
The UK spent 377 million pounds on British Steel over nine months. The watchdog warns costs will hit 615 million by June with no certain repayment schedule.
The United Kingdom government has been cautioned by its national spending watchdog regarding the escalating costs of maintaining British Steel. Since seizing operational control of the firm in April 2025, the state has injected hundreds of millions of pounds to preserve the country's last remaining primary steelmaking capability and thousands of jobs.
According to a report by the National Audit Office (NAO), the Department for Business and Trade (DBT) spent £377 million ($500 million) between April 12 and January 31. This intervention, which lacks a fixed budget or a definitive end date, is currently costing taxpayers approximately £1.3 million per day. Projections suggest the total bill for support will reach £615 million by June.
