Former Conservative cabinet minister Sir John Redwood has shared his "worry for the taxpayer" after Labour stepped in to save British Steel and the company announced it will end consultation on up to 2,700 redundancies.

Between 2,000 and 2,700 jobs had been at risk under the consultation launched by the company's Chinese owners.

Between 2,000 and 2,700 jobs had been at risk under the consultation{ai:summary}<p>Former Conservative cabinet minister Sir John Redwood expressed concern for taxpayers following Labour's intervention to save British Steel. The company has decided to halt consultations that could have led to 2,700 job redundancies, which were initially proposed by its Chinese owners. </p><p>#economy</p>

WATCH: Sir John Redwood has shares 'worry for the taxpayer' as Labour steps in to save British Steel

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