Tom Blenkinsop
Main Page: Tom Blenkinsop (Labour - Middlesbrough South and East Cleveland)
Michael Fallon
Carbon price floor compensation is something that we are still pursuing with the Commission in Brussels. I am hopeful that that will be agreed soon. The state aid clearance procedures are lengthy in these cases. Obviously, we are continuing to press the case for backdating.
Tom Blenkinsop (Middlesbrough South and East Cleveland) (Lab)
The carbon price floor tax introduced by this Government makes it four times harder for UK industry to compete with EU competitors. How many companies have received compensation for the carbon price floor tax? Is it more than one or fewer than one?
Michael Fallon
We have introduced compensation for the EU emissions trading system, as I have said. We have already paid out compensation to more than 50 companies in the steel, paper and chemical industries. Some of the major industries concerned have welcomed the further proposals that the Chancellor announced in the Budget, including Tata Steel, which said that the measures that were announced in the Budget
“will make an important difference to Tata Steel in the UK.”