Labour MP Nic Dakin has said British Steel needs to be nationalised by the summer.
They told the BBC that this was “the best outcome” for the company to get investment while talks with current owners, Jingye, remain ongoing.
Dakin, the MP for Scunthorpe, stated: "I would hope that it's resolved as soon as possible, certainly by the summer.
"In the short term, it needs to come into public ownership so that the business can make its own decisions about its future. And that future may well involve new investors or new owners."
The UK government took control of British Steel in April 2025, after Jingye announced that it was no longer financially sustainable to operate the blast furnaces at the Scunthorpe site, and began a consultation over 2,700 job losses.
According to a recent report from the National Audit Office, the decision to take control is costing the government around £1.3m a day.
