TRADE unions confirmed today that they have reached agreement to secure the future of British Steel, though remained wary that up to 500 jobs could be cut by the potential buyer.

The National Trade Union Steel Coordinating Committee — made up of representatives from Community, GMB and Unite — said it had struck a deal with Chinese firm Jingye to buy British Steel out of administration.

The firm became insolvent in May 2019, which put more than 4,000 jobs in Wales and the North East on the line.