Chancellor Jeremy Hunt’s Spring Budget was slammed as a ‘missed opportunity’ for the UK Government to deliver long-term funding for the next wave of carbon capture projects.
The UK’s Spring Budget 2024 sets out the government’s progress in delivering the growth package from Autumn Statement 2023, including outlining the next steps on the £4.5bn ($5.7bn) funding package for strategic manufacturing sectors.
Despite the Government having previously pledged support to UK carbon capture, Ruth Herbert, Chief Executive of the Carbon Capture and Storage Association (CCSA), believes that the mark has been missed when it comes to carbon capture, utilisation and storage (CCUS) projects.
“Today’s budget was a missed opportunity for the Government to put in place a longer-term revenue support envelope for the next wave of projects – to provide the level of certainty they need to move forward,” she said.
... to continue reading you must be subscribed
