Source · Select Committees · Business and Trade Committee
Recommendation 22
22
Not Addressed
Paragraph: 119
UK steel producers were already facing some of the highest electricity prices in Europe prior...
Recommendation
UK steel producers were already facing some of the highest electricity prices in Europe prior to recent rises in the wholesale price of gas. Soaring gas prices have since transformed what was a long-standing problem into an immediate crisis. We urge the Government to support UK steel producers but note that short-term bailouts must not be at the expense of a longer-term strategy to secure a level playing field for UK steel producers with their European counterparts.
Government response summary AI-generated
The government's response was entirely unrelated to the recommendation, instead discussing the International Accounting Standards Board's project on supply chain finance.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
119
Government Response
Not Addressed
HM Government · verbatim extract
Not Addressed
43. We recognise this is a worrying time for businesses facing pressures due to the significant increases in global gas prices, and the subsequent increases in electricity prices. Extensive engagement with industry continues across Government at both a ministerial and official level.
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