The UK government is under growing pressure to clarify its long-term strategy for British Steel, a state-owned steel producer that has become a major financial burden. British Steel was taken into public ownership in July to prevent the closure of its Scunthorpe steelworks and the loss of 4,000 jobs. However, the company is now costing the government £1.3 million every day to maintain, with total estimated costs reaching up to £1.5 billion by 2028. So far, the government has spent £555 million on salaries and raw materials, not including the cost of outside advisors. A committee of MPs, known as the Public Accounts Committee, has raised concerns that the government has yet to outline a clear business model that would ensure British Steel's long-term financial stability. Nearly 18 months after taking control of the company, ministers have not provided even rough estimates of the total cost to taxpayers or how long the government will need to support the company. The committee’s deputy chair, Clive Betts, acknowledged the importance of saving the steelworks but stressed that the government must now focus on ensuring the company becomes financially sustainable rather than just keeping it afloat with public funds. The criticism follows the recent nationalization of another steel producer, Speciality Steel UK, by the Labour Party, which aims to protect 1,300 jobs in Yorkshire. Business Secretary Jonathan Reynolds emphasized that the government does not normally intervene in private companies but believes such actions are necessary to support heavy industry. However, the Public Accounts Committee warned that the government cannot spend all its resources on British Steel, as other parts of the industry may also need support. The committee has urged the government to publish a detailed plan for British Steel, including options for its future production, its role in the UK economy, steps to reduce carbon emissions, and how the company will achieve financial sustainability. The plan should also outline expected costs, sources of funding, and a timeline for implementation. Meanwhile, the former owner of British Steel, Jingye, has claimed the company owed it nearly £1 billion when it was nationalized and has begun a formal process to seek compensation under an international treaty. This has added tension to UK-China relations, as China has expressed strong dissatisfaction with the situation.