Source · Select Committees · Public Accounts Committee
Recommendation 11
11
The Department had spent £15 million on advisers by January 2026.
Conclusion
The Department had spent £15 million on advisers by January 2026. It said it had benefited from the expert legal and technical advice and had used advisers to fill capability gaps in British Steel. While the main funding was classed as a debt, there is no formal loan agreement in place, and it is not apparent that British Steel will be able to repay it. The Department said it had not tried to recover adviser costs from British Steel as it did not want to create any perception of a conflict of interest.32 25 Qq 43-44; C&AG’s Report, para 2.8 26 Qq 45-46; C&AG’s Report, para 18 27 C&AG’s Report, Figure 12 28 C&AG’s Report, para 12 and Figure 12 29 Q 58 30 Qq 61-62 31 Qq 68-71 32 Q 74; C&AG’s Report paras 15, 3.12 11