British Industrial Competitiveness Scheme
The question
To ask the Secretary of State for Business and Trade, whether the new British Industrial Competitiveness Scheme will be funded through a) the Exchequer, b) energy suppliers or c) another source.
Answered by Chris McDonald
As stated in the Modern Industrial Strategy, the Government intends to fund the British Industrial Competitiveness Scheme by bearing down on costs across the energy system to ensure that the scheme is delivered in line with our wider priorities to deliver affordable power for businesses and households. For example, the proposals in the Department for Energy Security and Net Zero's recent consultations on changes to inflation indexation of the Renewables Obligation and Feed-In Tariffs schemes, if implemented, could contribute to that goal.
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