Britain provides security to receiver of British Steel

Britain has granted an indemnity to the official receiver handling the collapse of British Steel, the country's second-largest steel producer, Prime Minister Theresa May said on Wednesday.

"Finance minister Philip Hammond has also agreed on an indemnity for the official receiver to enable British Steel to continue to operate in the immediate future," May told parliament.

The company collapsed after failing to secure emergency government funding, jeopardising some 25,000 jobs.