Energy: Investment

(asked on 7th March 2023) - View Source

Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, pursuant to the Answer of 6 March 2023 to Question 156125, what discussions she has had with her counterpart in the US administration; and what proposals were made as a result of the discussions to (a) protect UK businesses and (b) introduce a similar policy in the UK in response.


Answered by
Nigel Huddleston Portrait
Nigel Huddleston
Financial Secretary (HM Treasury)
This question was answered on 13th March 2023

We are working together with the US to develop meaningful solutions that support our supply chains and we will continue to robustly defend the interests of UK industry.

We continue to assess the impact of international policies on UK investment to ensure that we meet our net-zero and economic growth ambitions. The UK has made significant progress in decarbonising and growing our economy, and we will continue to back our ambitious targets with impactful domestic policy and targeted funding.

We are still working to understand the impact of the Inflation Reduction Act. We are committed to working with international partners to achieve our common goals for Net Zero in a way that does not undermine our commitments to rules-based trade.

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