Source · Select Committees · Business and Trade Committee
Recommendation 22
22
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.
Paragraph Reference:
119
Government Response
Acknowledged
HM Government
Acknowledged
25. The International Accounting Standards Board (IASB) has an active project on its agenda in respect of supply chain finance (reverse factoring) arrangements. On 26 November 2021, the IASB issued an Exposure Draft which proposed amendments to IAS: 7 Statement of Cash Flows and IFRS: 7 Financial Instrument Disclosures.