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The Financial Times says the government has devised a “contingency plan” to save Britain’s third-largest steel company as ministers “brace themselves” for its “potential collapse”. No 10 is said by the paper to be increasingly concerned about Liberty Steel – which owns 12 steel plants in the UK and employs 5,000 people – as the firm continues to look for new financing after the collapse of its main backer, Greensill Capital.