| answer text |
<p>The Government recognises the importance of research and development (R&D)
in helping to transform the steel sector so that it can play a vital role within our
modern Industrial Strategy.</p><p> </p><p>Agreement has been reached that UK participants
engaged in ongoing Research Fund for Coal and Steel (RFCS) projects will continue
to be funded until completion. However, the Commission has informed UK participants
in consortia that are bidding for funding this year, that they will not be eligible
to receive RFCS funding. This is because the resulting grant contracts are due to
be signed in April to June 2021, after the end of the transition period established
in the Withdrawal Agreement.</p><p> </p><p>Leaving the EU provides us with the opportunity
to focus our investment on our own priorities. This includes the Government’s commitment
to invest £22 billion in R&D by 2024/2025, which is a record increase in R&D
spending. We have also announced a £250 million investment towards a Clean Steel Fund,
complemented by a £100 million Low Carbon Hydrogen Production Fund, to support decarbonisation
and make the most of the clean growth opportunities in steel.</p>
|
|
