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<p>At last year’s Spending Review, we set out plans for Government spending for 2021/22,
to prioritise the Government’s response to Covid-19, and our focus on supporting jobs.</p><p>
</p><p>The Government recognises the importance of research and innovation in helping
to transform the steel sector so that it can play a vital role in developing the UK’s
economy. Our on-going support to the sector includes announcing £22m to the Materials
Processing Institute in Teesside to deliver a R&D programme of transformative
manufacturing, announcing a £250m Clean Steel Fund that to support the transition
of the steel sector to new low carbon technologies, providing up to £66m through the Industrial
Strategy Challenge Fund to help steel and other foundation industries develop radical
new technologies and establish innovation centres of excellence in these sectors,
and the £315m Industrial Energy Transformation Fund which supports the development
and deployment of technologies to transition to a low carbon future.</p>
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