39
Acknowledged
Many of the challenges facing the UK steel industry today are long-running and have led...
Recommendation
Many of the challenges facing the UK steel industry today are long-running and have led to crises in the past. Without fundamental reform of energy pricing and a clear decarbonisation strategy, the sector will fail to attract much needed investment and continue on a path of accelerating decline. The Government’s rhetoric on the strategic importance of the sector must be matched by supportive policy.
Government Response Summary
The government acknowledged the pressures faced by businesses due to rising energy prices and stated that extensive engagement with industry continues, but did not commit to fundamental reform of energy pricing or a clear decarbonisation strategy.
Paragraph Reference
196
Government Response
Acknowledged
Government Response
Acknowledged
HM Government
Acknowledged
43. We recognise this is a worrying time for businesses facing pressures due to the significant increases in global gas prices, and the subsequent increases in electricity prices. Extensive engagement with industry continues across Government at both a ministerial and official level.
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