Carbon Capture and Storage
(asked on 14th April 2023) - View Source
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, whether his Department plans to fund carbon capture and storage projects from (a) tax revenue, (b) levies, (c) charges on energy customers and (d) other sources.
This question was answered on 24th April 2023
The £20bn announced in the 15 March Budget will come from levy and Exchequer sources. The precise mix will be confirmed once negotiations are complete. The Government expects it to encourage billions of pounds of additional private capital as private partners also commit to the programme, creating jobs and bringing investment to the UK's industrial heartlands.