The Scottish Government are doing what they can to support individuals, businesses and those who have been excluded by the Chancellor from receiving any grants, loans or payment holidays. They are hampered in doing so by not having the autonomy of borrowing powers to meet the unique requirements of the …
..."Asked by: Allan Dorans (Scottish National Party - Ayr, Carrick and Cumnock)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to support private investment in the UK hydrogen economy.
Answered by Kemi Badenoch - Leader of HM Official Opposition
At Spring Budget 2020, the Chancellor announced a commitment of at least £800m for the deployment of Carbon Capture and Storage (CCS) in the 2020s. These assets will play an important role in the production of hydrogen made from fossil fuels, otherwise known as blue hydrogen as they share the same infrastructure. .
Additionally, last year, the Government announced a £100m Low Carbon Hydrogen Production Fund to incentivise future private sector investment in low carbon hydrogen, whilst in July this year, the Government published a response to a consultation on CCS business models, including for low carbon hydrogen production.
These measures will ensure that the UK economy is well-placed for future strategic decisions on the use of hydrogen, and that the private sector has sufficient confidence to provide investment.