We’re going to wrap up our live blog coverage (for now) of the steel crisis. At this point, the Port Talbot steelworks still faces a race against time to secure its survival and save thousands of jobs, with Tata Steel looking to resolve the future of its UK business within weeks as it emerged that billions of pounds are needed to make it viable.

About 15,000 jobs are at risk in Tata Steel’s UK business and a further 25,000 in the supply chain after the Indian company revealed plans to pull out of the country.

Sajid Javid, the business secretary, is on his way home from Australia to tackle the crisis, and David Cameron is also returning from a holiday in Lanzarote.

It would be foolish to pretend that there would be no problem facing steelmaking in Britain that determined state intervention could not solve, according to a Guardian editorial.

It adds, however, that government should not be let off the hook:

There are things it could and should do to defend UK steel – and things earlier governments should have done too. David Cameron may have told the industry minister Anna Soubry to do everything she could to keep steel alive.

But the industry secretary, Sajid Javid, who rightly cut short a visit to Australia, is a laissez-faire Tory who has not shown much interest. After the US imposed anti-dumping tariffs on Chinese steel, the EU could have followed suit, but the UK appears not to have voted for them.

It concludes

If we think the steel industry is important enough – which it is – and if industrial strategy is more than a slogan – and it ought to be – government must intervene to calm the uncertainties in the public interest. This is not a time for dogma. It is a time for a practical rescue plan and an overdue long-term commitment.

As the business secretary flies back from Australia, here’s Kipper Williams on the Port Talbot steel crisis:

Labour leader Jeremy Corbyn’s petition calling for David Cameron to recall parliament over the Tata steel crisis has taken a fairly big jump in the past few hours. It’s now close to 50,000.

Hitting 100,000 presents the vista of MPs potentially having to come back from their holidays.

It looks like a calm evening in Port Talbot, where evening shift workers have been clocking on (picture via Alex Thomson of Channel 4 News)

Remember Corbynomics? Richard Murphy, the man behind that radical policy platform insists that the money to save steel in the UK could come from ‘People’s Quantitative Easing’ - the policy of using money created by the Bank of England to invest in public infrastructure projects, at the same time as boosting employment and economic growth.

Murphy hasn’t quite been as prominent in recent times in the formation of economic strategy on the part of the Labour leadership.

More now from Jeremy Corbyn in Port Talbot, where it was put to him by Jon Snow of Channel 4 News that the crisis is essentially a “great collision between a polluting industry and [the Labuor leader’s] commitment to saving the environment.” Isn’t the problem a question of ‘green taxes’ which make steel production more expenseive?

Corbyn said he did not necessarily agree that such a collision was taking place, adding: “This is an efficient industry. This is an industry that recycles a lot of the products it produces.”

The Labour leader reiterated his view that it may be time to look at the “lack of regulation” and suggested that steel imported from countries that do not have similar environmental standards (ie China) should be prevented from coming in.

He added:

You can turn this into a collective good by saying that any imported steel should have the same conditions which the steel are subject to in this country.

Vince Cable, the former holder of Sajid Javid’s post of secretary of state for business, innovation and skill, has been offering his views on the crisis, saying: “Let’s not be dogmatic about it”.

What followed from the former Liberal Democrat MP was a straight forward appeal for the government to intervene. He told Sky News: “It might be that a term period of public ownership is necessary as part of the transition”.

Cable cited the example of the measures taken by the Scottish government last week to facilitate the acquisition of two former Tata mills by the commodities investor Liberty House.

“It may be that someone of that nature may be required in Wales,” said Cable.

He was asked if such an arrangement would be hugely expensive. The reply:

Whatever happens I’m afraid the tax payer is going to be in line for big losses. If many thousands of people lose their jobs there is goin to be an enormous cost in the communities.. workers will beed training... the whole transitional process is going to be very costly.

The crisis continues provide a new theatre of battle in EU referendum hostilities, particularly for ‘vote leave’ campaigners. Here’s a tweet from Tory MP William Wragg

The Leave.EU campaign have meanwhile put this together:

The West Cumbrian Labour MP, Jamie Reed, has published a letter he has written to David Cameron in which he tells the prime minister that the government has a “responsibility to intervene” on behalf of communities affected by market failures:

Communities cannot be left to suffer the decline of market failure as a result of Government’s reluctance to intervene. The cumulative and knock-on impact of a closure of a facility such as Chapelbank on the local economy would be felt for years to come and the Government has a duty to ensure this does not happen.

Reflecting on his own area, Reed said that Tata’s Chapelbank site in Workington, West Cumbria has been a critical part of the Energy Coast economy for decades despite facing repeated challenges:

The facility plays a key role in the nuclear sector in the region and, through work with supply chain businesses in the area and major nuclear partners, helps to maintain and expand the skills base necessary to cement West Cumbria’s place as world leaders in nuclear engineering.

Meanwhile, this is Ben Quinn picking up the liveblog from Graeme Wearden.

Dave Hulse, from the GMB union, isn’t impressed with the government’s performance today.

“David Cameron should be ashamed of himself for ruling out a recall of Parliament. He makes out that the Government cares about working people but this clearly confirms that holidays are more important than the members we represent and the communities that they come from.

Hulse also urges Sajid Javid to rethink his claim that nationalisation isn’t the answer:

If he is committed to doing the right thing then he has to rethink and listen to everyone connected with the steel industry or our steel manufacturing base will be lost forever.”

(thanks to the Press Association for the quotes)

Downing Street has now issued a statement, confirming there are “no plans” to recall MPs from their holidays to discuss the steel crisis.

A spokesperson says:

Ministers will continue to hold briefings to update representatives of other parties on the situation but we have no plans to recall Parliament. Our focus is on finding a long-term sustainable future for steel making at Port Talbot and across the UK.

Jeremy Corbyn is now speaking to Sky News in Port Talbot.

He warns that Britain risks losing a century of steelmaking expertise, if the government does not step in to rescue the industry.

I suggest that the government listen to what people who have given their lives to the steel industry are saying, says Corbyn.

Does the government really want to be remembered for allowing the steel industry to be recalled, he asks.

Steel workers believe there is a future for this industry, and so do I, the Labour leader continues. But there must be a declaration from the UK government that it is prepared to step in and save the steel industry.

The word from Downing Street is that the government is “completely focused” on working with Tata, the trade unions and other interested parties, to deliver a “sustainable future” for the plant at Port Talbot, and the wider industry.

Here’s a clip of Jeremy Corbyn speaking in Port Talbot:

Labour leader Jeremy Corbyn has now arrived in Port Talbot to meet with steel workers.

David Cameron is planning to speak by phone to Welsh First Minister Carwyn Jones later this afternoon, government insiders say.

He’s then expected to hold the crisis meeting in London tomorrow morning.

A couple more photos from Sajid Javid’s (flying) visit to Australia:

Is this the moment that the business secretary decided to cut his Australia trip short?....

Britain’s steel industry was once the envy of the world. But in recent decades, it has experienced economic problems, industrial disputes, privatisation, mergers, and relentless competition from abroad.

Here’s a two-minute history:

The government says it has no plans to recall parliament to discuss the steel crisis, despite Jeremy Corbyn’s request earlier today.

The petition to recall MPs back from their holidays has already attracted 5,000 signatures in the first hour. You can sign here.

ITV’s deputy political editor Chris Ship reports that Sajid Javid’s cabinet colleagues will be pleased to see him back:

The steel crisis has lead to the surprising sight of Conservative MPs supporting state ownership of the industry.

Asked about nationalisation, David Davies, who chairs the Welsh Affairs Select Committee, said “I’m not against that idea at all”.

He told Radio 4’s World At One that:

We do need to have a viable steel industry in this country. It’s very important from a defence point of view.

Here’s the clip: Tory MP ‘not against’ nationalising UK steel industry

Tom Pursglove, Tory MP for Corby, is also backing the “save our Steel” campaign.

There is a Tata plant in his constituency, and Pursglove is arguing that all option should be considered:

Jeremy Corbyn has created a petition to encourage David Cameron to recall parliament.

It’s currently got 178 signatures. Sorry, make that 189 , 198, 208....

Attention, Port Talbot. Jeremy Corbyn is heading your way...

Ben Wright of the Press Association is tweeting the scene at Port Talbot - from the media circus to the homes of worried steel workers:

My colleague Graham Ruddick has analysed the crisis facing the steel industry, and explained why it can’t all be blamed on Europe:

Would Brexit really help the steel industry, as campaigners are claiming?

One counter-argument is that UK industry would find it harder to sell products to the continent if Britain left the EU, especially if punitive tariffs were imposed. That weaker demand could feed through to the steel industry.

And although Brexit would allow Britain to slap much higher tariffs on cheap Chinese steel, that might not be a brilliant negotiating strategy if you’re trying to charm Beijing into a new trade deal.....

Here’s another sign that Brexit campaigners believe the steel crisis helps their case:

Labour MP, and Brexit campaigner, Kate Hoey has blamed Brussels for the plight of the UK steel industry.

She writes:

“The EU’s regulations on energy production are killing our steel industry. It is impossible for the UK to compete with non-EU countries like the US, where electricity costs half the price, and Norway, where energy is 25% of the UK price. They unlike us are free from dogmatic, ineffective rules on energy sources.

She also criticises the EU for allowing China to “dump cheap steel on European countries”.

(Although as we pointed out earlier, Britain actually blocked attempts to raise tariffs on Chinese steel).

Hoey also singles out the EU ban on state aid:

“The European Union also ties the UK’s hands on state aid, preventing us from temporarily nationalising the industry under their inflexible single market competition rules. This would allow Port Talbot to ride out the storm until steel prices recover and a new buyer is found.

(Reminder: EU rules ban countries from propping up failing companies, but do allow support to boost competitiveness)

Jeremy Corbyn has now tweeted a photo of his letter calling for MPs to be recalled to Westminster.

No response from @David_Cameron yet....

My colleague Nazia Parveen is meeting with Tata steel workers in Rotherham.

They have told her they are desperately worried about their jobs, and urged the government to help. Workers are also unhappy that Chinese steel is being imported and used for local projects, rather than steel milled in the area.

Nazia has also met with people who were laid off by Tata recently:

As well as recalling parliament, Jeremy Corbyn is asking David Cameron to convene a meeting of all interested parties to discuss the steel crisis.

That would include government, unions, and industry groups.

The Labour leaders also says that state ownership should be considered:

“If necessary ministers must be prepared to use their powers to take a public stake in steel-making to protect the industry and British manufacturing. The Government must do whatever it takes to save this strategic industry.”

Labour’s deputy leader, Tom Watson, tweets that the business secretary must ‘get a grip’ of the steel crisis.

Sajid Javid spoke to Tata Steel chair Cyrus Mistry this morning, we hear.

The business secretary is “monitoring the situation closely and getting regular updates” despite being in Australia, according to a government source.

The IPPR think tank has calculated that at least 40,000 jobs are at risk across the steel industry, and in industries that rely on it.

That includes 15,000 employed by Tata Steel in the UK, and 25,000 jobs in the supply chain -- at manufacturers and suppliers of iron, coke, petroleum, and machinery used at steel works.

The GMB union has also backed the idea of temporary nationalisation, to protect steel from the current crisis.

Dave Hulse, national officer of the GMB, said:

We have to look at nationalising the steel industry, even over a short period of time, to protect the assets. Otherwise, we will end up with the same situation we had with SSI in the North East where the Government badly let everyone down.

The SSI steelworks in Redcar, Teesside, shut last autumn after its owner went into liquidation, with the loss of 1,700 jobs.

The European Commission says Britain hasn’t been in touch about potential support for the steel industry.

The EC’s official position is that governments may not use public money to rescue and restructure failing steelmakers. However, EU countries are allowed to boost the global competitiveness of steel companies, by funding research and development or helping with high fuel costs.

In January, the EC ordered Belgium to recover €211m in aid handed to steelmaker Duferco. It also opened a formal probe into claims that Italy had wrongly provided €2bn to help its Ilva steelworkers to modernise itself.

Shadow government minister John Healey has urged business secretary Sajid Javid to cut his trip to Australia short, and head home.

Mr Healey said (via the Yorkshire Post):

“I want to see the Business Secretary back from Australia to get a grip on the Government’s response and I want to see the Prime Minister saying to the Community union, which has led the charge in this: ‘yes, I will meet you, yes, I will discuss the future of steelmaking in this country,’ because it is too important for us to lose.”

Healey criticised Javid for not flying to India to lobby Tata, ahead of yesterday’s crunch board meeting:

“Of course they should have sent a minister to the meeting in Mumbai. The Business Secretary is 6,000 miles away in Australia, but I’m afraid this is characteristic of this Government. They dragged their feet over putting in place a scheme to help with high energy costs and they blocked early moves to stop Chinese dumping in UK and European markets.

Then two weeks ago in the Budget they failed to change the business rates system to reflect the investment needed in steelmaking and manufacturing, which the industry, the unions and MPs from all parties have been calling for.

More here.

The chief executive of Neath Port Talbot Council has also backed the nationalisation of the local steel works, following Tata’s decision not to support its turnaround plan.

Interviewed by the Municipal Journal (the MJ), Stephen Phillips said urgent action was needed to preserve jobs at the site, and the surrounding area.

Phillips said.

‘I would support a government acquisition. Frankly, we’re not in a position to pick and choose.

If there is a prospect of a sustainable disposal to a third party so be it, if that requires the Government to intervene on a temporary or permanent basis so be it.

More here: Chief backs steel plant nationalisation

The Unite union is calling for full-scale nationalisation:

The FT’s chief political correspondent, Jim Pickard, reckons there are four options on the table to save Britain’s steel industry, and only a few weeks in which to do it.

Easing the path to a private sale.

This is what happened in Scotland, where the government agreed to briefly own two Tata steel plants before immediately selling them to a new owner.

Business minister Anna Soubry has already indicated this option is on the table (despite some initial haziness about the details). However any buyer would need convincing that the steel industry has a bright future, despite Tata warning that conditions have deteriorated.

Full nationalisation.

Unions and some opposition MPs would support this plan, but it runs against David Cameron’s free-market ethos.

But as Jim points out, there is precedent...

Supporters of the idea say that it would be no different to the rescue of the big banks after the credit crunch of 2008: the business could be sold on once steel prices recover at some point in the future, they argue.

It could also fall foul of EU state aid rules, which prevent government from propping up failing businesses.

Part-nationalisation.

Taking a stake in Tata UK would provide capital to cover its current losses. It could also potentially help a management/workers buyout. However, Brussels state rules could be problematic.

Allow Britain’s steel industry to fail.

The government could conclude that steel-making is no longer profitable. This would destroy thousands of jobs across the country, both at steel works and related industries.

It would also be politically damaging. As Jim puts it:

For the Tory government, the political consequences would be obvious: critics would see it as further proof of its apparent callousness in the face of Britain’s decline in conventional manufacturing.

Wales first minister, Carwyn Jones, has called for the Welsh Assembly to be recalled to discuss the crisis.

Jones has written to Rosemary Butler, president officer of the Assembly, formally asking for a debate next Monday.

The Assembly is currently on its Easter recess.

Business minister Anna Soubry is hitting back at critics of her Today Programme interview, via Twitter.

As covered earlier, she was asked why Westminster couldn’t copy the Scottish example of buying steel assets from Tata and selling them onto another buyer.

Soubry is defending her claim that the Scottish government didn’t actually buy the two plants, because they are being immediately sold on to metals firm Liberty House.

The important point, I think, is that the Scottish deal gave Tata reassurance that it would sell the assets, and also allowed Liberty House to avoid a long-winded due diligence process.

Britain’s business secretary has been spotted, just 10,000 miles away from Port Talbot.

Sajid Javid has been meeting with Australia’s prime minister, Malcolm Turnbull, in Sydney to discuss economic ties between the two countries.

Important stuff, but thousands of steel workers would probably rather see Javid back home - or lobbying Tata in Mumbai like opposition MP Stephen Kinnock.

Javid’s absence leaves the stage free for the prime minister and chancellor of the exchequer to step in....

Our Brussels correspondent, Jennifer Rankin, points out that Britain has been blocking efforts to stop Chinese steel-makers undercutting the UK industry.

Last month, the UK repelled efforts to scrap the “lesser duty rule”, allowing EU members to block cheaper steel imports from China.

Business secretary Sajid Javid argued that UK consumers and businesses would suffer if higher tariffs were imposed on Chinese steel - hurting UK growth, jobs and exports.

Unions, though, warned, that allowing Chinese firms to ‘dump’ steel at unfairly cheap prices risked killing off the British steelmaking sector.....

More here:

One of Britain’s top actors has urged the government to deliver on its promises, and keep the steel industry running.

Michael Sheen, who grew up in Port Talbot, says the area has already suffered from the economic crisis over the last eight years.

The steel industry was shaken hard by the financial crisis in 2008. The banking industry was helped enormously to recover from that. I hope that we can see as much support for the steel industry and its workers now that they face their time of greatest need. Steel has been at the very foundation of our national identity for generations.

It has given so much to us a country. Now is the time to honour that contribution.

More here:

Eight years ago, Britain’s government poured tens of billions into the banking sector. Should it now give steel a bailout?

Or should we accept that steel is a declining industry, and focus on developing cutting edge technology instead? And what about the European angle - is it right that state aid rules enforced by Brussels could determine UK steel’s future?

Let us know what you think here:

A “Save Our Steel” sign has been set up outside the Port Talbot plant.

Guardian photographer Gareth Phillips has visited Port Talbot, to capture these images of a town built around its steel works:

Here’s more reaction to business minister Anna Soubry’s interview on Today.

The Huffington Post’s Graeme Demianyk reckons Soubry’s comments on temporary nationalisation are significant:

James Wright of the Co-operatives UK argues that a management buyout could be the answer:

Rory Broomfield, director of the Better Off Out campaign, argues that steel could get more support if Britain leaves the EU:

Anna Soubry sounded somewhat confused about how Scotland’s government had rescued its own steel industry earlier this year.

She told Today Programme that:

“ I think, and I’m using that word very carefully, I think they may have kept some of the staff on. I may be wrong about that, but they didn’t take ownership of the Clydebridge and Dalzell plants.

However, the official announcement states that Tata sold the sites to the Scottish government, who are now selling them on to international metals group Liberty House.

And when asked about how the government could take temporary ownership of Tata’s sites, Soubry admits that “I don’t know the fine detail of it.”

It does suggest that the crisis may have caught ministers on the hop, as James Reed, political editor of the Yorkshire Post, tweets:

Anna Soubry adds that there is “huge sympathy” for Tata, given the sums it has invested, but it is losing £1m per day.

Q: Couldn’t you pick up those losses?

We have to be compliant with state aid rules, the business minister replies.

But there is absolute determination to make sure that steel is made in Port Talbot, not just rolled and milled there.

And the government doesn’t want Tata’s UK assets to be split up too much, Soubry concludes.

Wales first minister, Carwyn Jones, has urged Tata to be a “responsible seller” and keep its UK sites operating while a buyer is found.

Jones also believes that “temporary nationalisation” needs to be considered.

He told Sky News that:

We can’t do it - we haven’t got the resources, but the UK government has got those resources.

Jones insists that the steel industry can have a profitable future, even though Port Talbot is currently loss-making.

State ownership has to be considered if the industry is to move forwards.... and face the future with confidence.

The head of Community, the steel union, tweets:

Business secretary Sajid Javid doesn’t appear to be scrapping his trip to Australia.

Javid is due to address the Australian British Chamber of Commerce tomorrow.

Opposition MPs have moved swiftly to pile pressure on the government, to prevent the steel industry collapsing.

Angela Eagle MP, the shadow business secretary, says this “vital strategic industry” must be saved.

“Steel workers at Tata, their families and their communities will be desperately worried this evening as they face ongoing uncertainty.

“Steel is a foundation industry that is hugely important for our economy. The Government should be doing everything possible to protect the industry in the short term as it faces this perfect storm.

Awkwardly for the government, the actual business secretary - Sajid Javid - was on an aeroplane to Australia when Tata’s bombshell landed.

Eagle isn’t impressed, saying:

“After months of complacency and after a budget with no strategy for steel, Sajid Javid and his team seem to have gone missing in action at this crucial time.