Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of hypothecating revenue from the UK Emissions Trading Scheme revenue for spending on (a) industrial decarbonisation R&D, (b) industrial decarbonisation project grants and (c) subsidies for low carbon production.
Receipts from the UK Emissions Trading Scheme (ETS) is not hypothecated towards specific projects. A floating carbon price means that revenue from the scheme is uncertain. Receipts currently help to fund public services including the Net Zero transition, such as: