Today, the Chancellor has delivered the Autumn Budget amid ongoing pressure on the UK’s public finances. Yet with the Government reaffirming that CCUS is fundamental to the UK’s low-carbon economy, today’s set of announcements come at a pivotal time for advancing the CCUS sector, accelerating industrial decarbonisation and clean power.
Olivia Powis, CEO of the CCSA, said:
“Today’s Budget and accompanying North Sea Future Plan underscore the vital role of CCUS in the UK’s industrial transition with welcome investment in skills and Grangemouth industrial projects. However, to realise CCUS’s potential, the Government must now act quickly to ensure a managed transition for the North Sea and to protect our industries from further closure – we need urgent action on policy for our refineries and CBAM. The industry needs a clear route to market for all CCUS clusters and projects to ensure CCUS can drive jobs, supply chain investment, innovation and economic growth for a European-wide CCUS industry.”