Source · Select Committees · Business and Trade Committee
Recommendation 25
25
Paragraph: 131
When implemented, the Targeted Charging Review has the potential to burden UK steel producers with...
Conclusion
When implemented, the Targeted Charging Review has the potential to burden UK steel producers with costs exceeding relief provided to the sector as an energy intensive industry. We note that despite this decision having a potentially significant impact on UK steel producers it has been left entirely to Ofgem without the opportunity for the Government to intervene.
Paragraph Reference:
131
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.