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Government Spends £377 Million to Save Scunthorpe Jobs

3/16/2026

29 4 Full Breakdown

Summary

Story summary

National Audit Office (NAO) reports the government spent £377 million over nine months to keep Scunthorpe running.
The Department for Business and Trade incurs about £1.3 million daily without a repayment schedule.
The intervention aimed to prevent the closure of the last two blast furnaces and protect jobs.
NAO projects spending could reach £615 million by June and exceed £1.5 billion by 2028.

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Story summary

National Audit Office (NAO) reports the government spent £377 million over nine months to keep Scunthorpe running.
The Department for Business and Trade incurs about £1.3 million daily without a repayment schedule.
The intervention aimed to prevent the closure of the last two blast furnaces and protect jobs.
NAO projects spending could reach £615 million by June and exceed £1.5 billion by 2028.