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| Tata Steel: Sajid Javid refuses to rule out nationalising Port Talbot business | Tata Steel: Sajid Javid refuses to rule out nationalising Port Talbot business |
| (35 minutes later) | |
| Business Secretary Sajid Javid has refused to rule out nationalising the loss-making UK steel business being sold by Tata Steel at Port Talbot. | |
| The UK Government could step in to “offer support” to the 4,000 Tata Steel workers at the factory in south Wales, which loses nearly £1 million a day. | |
| David Cameron appeared to rule out even temporary nationalisation of the steelworks after emergency talks with ministers on Thursday. | |
| But speaking to the Andrew Marr Show on Sunday morning, Mr Javid said he would not “rule out anything at this stage”. | |
| The government could intervene to cover some costs, including pensions, to make it easier for Tata to find a buyer, the Business Secretary said. | |
| He said he believed nationalisation was “rarely the answer in these situations”. | |
| “I don’t think nationalisation is a solution to this,” he said. “Having said that I also think it wouldn’t be prudent to rule anything out at this stage.” | |
| Mr Javid said it could be a period of months before a new owner could be found to take over the Port Talbot steelworks. | |
| “We will look at everything we can do to allow a sale going ahead and I wouldn’t rule out anything at this stage,” he said. |