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Sajid Javid in Brussels for international steel talks

Sajid Javid will discuss steel overproduction in Brussels on Monday Credit: PA

Sajid Javid will be in Brussels for talks on Monday to discuss the global overproduction of steel.

The Business Secretary will hold talks in the Belgian capital with counterparts from China, India and 27 other nations to "seek solutions to the overcapacity crisis".

Tata Steel, the Indian-owned conglomerate, announced it was putting its UK assets - including the Port Talbot plant - up for sale in March after prices were hit by China "dumping" steel on the global market.


Sajid Javid: Government is ready to help Tata Steel sale

Business Secretary Sajid Javid has said that he has been in touch with potential buyers of Port Talbot and maintained that the government is ready to help.

Government involvement includes the possibility of co-investing with a buyer by providing loans on commercial terms, or by taking a minority stake in the plant.

Mr Javid’s comments come after Tata Steel confirmed a deal to sell its Long Products Europe business, including its Scunthorpe plant, to Greybull Capital.

ITV News Political Correspondent Carl Dinnen reports:

Javid: Government could co-invest with steel buyer

The Government could look at the possibility of co-investing with a steel buyer "on commercial terms", the business secretary told the Commons.

Sajid Javid said the "Government stands ready to help" as he addressed the Commons.

I've been in contact with potential buyers, making clear that the government stands ready to help. This includes looking at the possibility of co-investing with a buyer on commercial terms.

– Javid

Business secretary facing questions over Tata Steel

The business secretary faced questions on Tata Steel's deal with Greybull Capital to buy its Scunthorpe Plant in the House of Commons.

Sajid Javid earlier called the sale - which will save 4,400 jobs - "a step in the right direction for the long-term future of British steel manufacturing in Scunthorpe."

He said he worked relentlessly to convince Tata not to close Port Talbot.

Sajid Javid's live statement has now ended.


Javid: Tata to formally launch sale by Monday

Tata Steel intend to formally launch the sale by Monday, the business secretary said.

Sajid Javid met with the chairman of Tata Steel today in Mumbai as he attempts to find a solution to the collapse of the UK steel industry.

Javid said the UK government "will do everything it can to support a serious buyer in every way we can to secure a long term future of this industry".

Tata have not set a timeframe for the sales process, Javid added, but the company will allow a "reasonable amount of time".

Sajid Javid: 'Progress being made' in Tata steel talks

The business secretary Sajid Javid has said "progress is being made" in talks with Tata steel executives.

Attempts are being made to find a buyer for the firm's Port Talbot plant as well as other UK assets, with thousands of jobs at risk.

Union leaders met today for emergency talks, and have called on the government to step in to protect the Port Talbot plant whilst a buyer is sought.

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