Antonia Bance
Main Page: Antonia Bance (Labour - Tipton and Wednesbury)Department Debates - View all Antonia Bance's debates with the HM Treasury
(1 day, 8 hours ago)
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Dan Tomlinson
The Government regularly assess whether to add energy-saving materials, including heat batteries, to the list of items covered by the current VAT relief, which is set to continue until March 2027. Any decisions would have to be announced by the Chancellor at a fiscal event, but I am happy to discuss the matter.
Antonia Bance (Tipton and Wednesbury) (Lab)
Given the global situation, what discussions has the Chancellor had with Cabinet colleagues on helping to keep industrial energy costs manageable? Will she work with colleagues to bring in the British industrial competitiveness scheme, which would cut manufacturing energy costs by 25%, as soon as possible?
Rachel Reeves
My hon. Friend is a powerful advocate for the energy-intensive industries, and for manufacturing more widely. The supercharger is being extended from April this year. That will help 500 of the most energy-intensive businesses, and increase their discount from 60% to 90%—and next year, the BIC scheme comes in. Given what is happening in the middle east, we will continue to look closely at what we can do to help our energy-intensive industries.