To ask the Secretary of State for Business, Energy and Industrial Strategy, what his timeframe is for the allocation of the Clean Steel Fund; and what steps his Department has taken to ensure the effective allocation of that funding.
The Department announced the Clean Steel Fund (CSF) in 2019 and it is currently in development. This policy will take time to design in order to be delivered effectively.
Based on previous evidence, complex decarbonisation projects have long lead-in times and take time to set up. Due to this and other factors, the steel sector indicated in response to the 2019 Call for Evidence that their preference is for the CSF to be launched in 2023. Other schemes are available to support the sector and are live now, including the Industrial Energy Transformation Fund.