Asked by: Angus Brendan MacNeil (Independent - Na h-Eileanan an Iar)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what his timeframe is for the allocation of the Clean Steel Fund; and what steps his Department has taken to ensure the effective allocation of that funding.
Answered by Nadhim Zahawi
The Department announced the Clean Steel Fund (CSF) in 2019 and it is currently in development. This policy will take time to design in order to be delivered effectively.
Based on previous evidence, complex decarbonisation projects have long lead-in times and take time to set up. Due to this and other factors, the steel sector indicated in response to the 2019 Call for Evidence that their preference is for the CSF to be launched in 2023. Other schemes are available to support the sector and are live now, including the Industrial Energy Transformation Fund.
Asked by: Angus Brendan MacNeil (Independent - Na h-Eileanan an Iar)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of progress in Europe on trialling hydrogen-based steelmaking; and what steps he plans to take to ensure that the UK keeps up with international developments in clean steel production.
Answered by Nadhim Zahawi
The UK is monitoring international progress on low carbon steel making trials, using hydrogen and other technologies, and is actively engaged in international initiatives to support industrial decarbonisation innovation, including the Mission Innovation platform and the Leadership Group for Industry Transition.
Decarbonising UK industry is a core part of the Government’s ambitious plan for the green industrial revolution. The Industrial Decarbonisation Strategy, published on 17 March, commits government to work with the Steel Council to consider the implications of the recommendation of the Climate Change Committee to ‘set targets for ore-based steelmaking to reach near-zero emissions by 2035’. The Steel Council offers the forum for government, industry and trade unions to work in partnership on the shared objective of creating an achievable, long-term plan to support the sector’s transition to a competitive, sustainable and low carbon future. Hydrogen-based steelmaking, Carbon Capture, Utilisation and Storage (CCUS), and electrification are some of the technological approaches being examined as part of this process.
The UK steel sector will be given the opportunity to bid into industrial fuel switching innovation programmes under the £1 billion Net Zero Innovation Portfolio (NZIP), which is intended to promote switching away from more carbon-intensive fuel sources. The Government has also announced a £250 million Clean Steel Fund to support the UK steel sector to transition to lower carbon iron and steel production, through investment in new technologies and processes.
Asked by: Angus Brendan MacNeil (Independent - Na h-Eileanan an Iar)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of potential additional policy measures needed to support future clean steel production in the UK.
Answered by Nadhim Zahawi
The UK is monitoring international progress on low carbon steel making trials, using hydrogen and other technologies, and is actively engaged in international initiatives to support industrial decarbonisation innovation, including the Mission Innovation platform and the Leadership Group for Industry Transition.
Decarbonising UK industry is a core part of the Government’s ambitious plan for the green industrial revolution. The Industrial Decarbonisation Strategy, published on 17 March, commits government to work with the Steel Council to consider the implications of the recommendation of the Climate Change Committee to ‘set targets for ore-based steelmaking to reach near-zero emissions by 2035’. The Steel Council offers the forum for government, industry and trade unions to work in partnership on the shared objective of creating an achievable, long-term plan to support the sector’s transition to a competitive, sustainable and low carbon future. Hydrogen-based steelmaking, Carbon Capture, Utilisation and Storage (CCUS), and electrification are some of the technological approaches being examined as part of this process.
The UK steel sector will be given the opportunity to bid into industrial fuel switching innovation programmes under the £1 billion Net Zero Innovation Portfolio (NZIP), which is intended to promote switching away from more carbon-intensive fuel sources. The Government has also announced a £250 million Clean Steel Fund to support the UK steel sector to transition to lower carbon iron and steel production, through investment in new technologies and processes.
Asked by: Angus Brendan MacNeil (Independent - Na h-Eileanan an Iar)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to trials, pilots and full-scale projects underway in countries including France, Austria, Germany, Netherlands, Spain, Sweden, Italy on using hydrogen to produce primary steel, what steps she is taking to ensure steel production in the UK keeps pace with international competitors on developing and using clean steel production technology.
Answered by Nadhim Zahawi
The UK is monitoring international progress on low carbon steel making trials, using hydrogen and other technologies, and is actively engaged in international initiatives to support industrial decarbonisation innovation, including the Mission Innovation platform and the Leadership Group for Industry Transition.
Decarbonising UK industry is a core part of the Government’s ambitious plan for the green industrial revolution. The Industrial Decarbonisation Strategy, published on 17 March, commits government to work with the Steel Council to consider the implications of the recommendation of the Climate Change Committee to ‘set targets for ore-based steelmaking to reach near-zero emissions by 2035’. The Steel Council is a forum for Government, industry and trade unions to work together on the shared objective of creating a competitive, sustainable and low carbon future for the sector. Hydrogen-based steelmaking is one of the technological approaches being examined as part of this process.
The UK steel sector will be given the opportunity to bid into industrial fuel switching innovation programmes under the £1 billion Net Zero Innovation Portfolio (NZIP), which is intended to promote switching away from more carbon-intensive fuel sources. The Government has also announced a £250 million Clean Steel Fund to support the UK steel sector to transition to lower carbon iron and steel production, through investment in new technologies and processes.
Asked by: Angus Brendan MacNeil (Independent - Na h-Eileanan an Iar)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will take steps with the Chancellor of the Exchequer to (a) extend the payback period for Bounce Back Loans for 6-12 months and (b) write-off a proportion of debt incurred under that scheme in response to the ongoing economic effects of the covid-19 outbreak.
Answered by Paul Scully
The Government launched the Bounce Back Loan Scheme (BBLS) to ensure that the smallest businesses could access loans of up to £50,000 to help businesses through this difficult period. Under BBLS no repayments are due from the borrower for the first 12 months of the loan, giving businesses the breathing space they need during this difficult time. In addition, the Government covers the first 12 months of interest payments charged to the business by the lender.
We have always been clear that businesses are responsible for repaying any finance they take out. However, we recognise that some borrowers will benefit from flexibility for their repayments. That is why we announced the Pay As You Grow measures.
Pay As You Grow was designed to provide Bounce Back Loan borrowers more time and flexibility over their repayments by giving them the option to:
On 8 February, the Government announced that these options would be made more generous – removing the requirement to make six payments before accessing the six-month repayment holiday.
Businesses will be able to use these options either individually or in combination with each other. In addition, they have the option to fully repay their loan early and will face no early repayment charges for doing so.