British Steel in deep crisis, minister gives assurance

Britain's government will leave "no stone unturned" to support the country's steel sector amid the crisis facing producer British Steel and it has been in contact with former owners Tata Steel, a minister said on Tuesday. "There have been ongoing discussions with the company and I am sure the House (of Commons) will understand that we cannot comment at this stage," Andrew Stephenson, a junior business minister, told lawmakers in parliament.

"I can, however, assure the House that, subject to strict legal bounds, the government will leave no stone unturned in its support for the industry," Stephenson said he met representatives of Tata Steel on Monday.

British Steel, the country's second-largest steel producer, could collapse unless the government agrees to provide an emergency 30 million pound ($38 million) loan by later on Tuesday, a source close to the situation said.