25
Not Addressed
When implemented, the Targeted Charging Review has the potential to burden UK steel producers with...
Conclusion
When implemented, the Targeted Charging Review has the potential to burden UK steel producers with costs exceeding relief provided to the sector as an energy intensive industry. We note that despite this decision having a potentially significant impact on UK steel producers it has been left entirely to Ofgem without the opportunity for the Government to intervene.
Government Response Summary
The government's response discusses the IASB's project on supply chain finance and proposed accounting amendments, which does not address the committee's concerns about the Targeted Charging Review or Ofgem.
Paragraph Reference
131
Government Response
Not Addressed
Government Response
Not Addressed
HM Government
Not Addressed
25. The International Accounting Standards Board (IASB) has an active project on its agenda in respect of supply chain finance (reverse factoring) arrangements. On 26 November 2021, the IASB issued an Exposure Draft which proposed amendments to IAS: 7 Statement of Cash Flows and IFRS: 7 Financial Instrument Disclosures.
Source
Committee
Business and Trade Committee
Report
Fourth Report - Liberty Steel and the future of the UK steel Industry
05 Nov 2021
HC 821
Addressee Bodies
Department for Business and Trade
Timeline
Recommendation age
4.7 yrs
Report published
05 Nov 2021