British Industrial Competitiveness Scheme
(asked on 26th October 2026) - View Source
Question to the Department for Business, Innovation, Science and Trade:
To ask the Secretary of State for Business, Innovation, Science and Trade, what assessment he has made of the potential impact of BICS on business investment decisions in key foundation sectors.
Answered by
Blair McDougall
Parliamentary Under-Secretary of State (Department for Business, Innovation, Science and Trade) (Jointly with the Department for Energy Security and Net Zero)
The British Industrial Competitiveness Scheme is expected to support investment in eligible sectors by cutting electricity costs by up to £35–£40 per Megawatt-hour, improving competitiveness and reducing the risk of plant closure and relocation. Higher investment is expected to raise productivity and economic growth through capital deepening and sector expansion.
BICS will also support economic resilience and supply chain security by reducing the vulnerability of strategically important foundational manufacturing sectors to relatively high electricity costs.
The BICS Impact Assessment estimates that across sectors eligible for BICS, there will be social benefits relating to investment of around £16bn over the 8-year period (2027/28 – 2034/35).