| answer text |
<p>The Secretary of State for Business, Innovation and Skills met the global head
of Tata in India on 14th October, who re-affirmed his company's commitment to the
British steel industry and to investing substantially in Port Talbot and strip steel.</p><p>
</p><p> </p><p> </p><p>Working within EU rules, we are implementing a £7billion package
of measures to address energy costs including £3billion to compensate energy intensive
businesses for the impact of policy costs in their electricity bills.</p><p> </p><p>
</p><p> </p><p>The Government has offered just over £12.7 million in funding through
the Advanced Manufacturing Supply Chain Initiative (AMSCI) for the £22 million Proving
Factory, which specialises in the industrialisation and low-volume production of advanced
propulsion systems to automotive standards. Tata Steel is a key partner in this project,
which is already producing commercial products.</p><p> </p><p> </p><p> </p><p>Rounds
1 to 5 of the RGF have supported 430 projects and programmes across England – allocating
£2.9 billion of government support. We project this to deliver 573,000 jobs and £16
billion of private investment between now and the mid-2020s.</p><p> </p><p> </p><p>
</p><p>The 2014 Budget doubled the annual investment allowance to £500,000 until the
end of 2015. Government has also cut corporation tax from 28% to 21% - it will fall
to 20% next year, the joint lowest rate in the G20, making Britain one of the most
attractive places to invest and do business.</p><p> </p>
|
|
