Oral Question·Treasury
“If he will make a statement on his departmental responsibilities.”
Tabled: 9 November 2022Answered: 15 November 2022
Asked by
Ben Lake
Plaid Cymru — Ceredigion Preseli
Answering Minister
the Chancellor of the Exchequer
Answer from Hansard
The Exchequer Secretary to the Treasury (James Murray)
The UK carbon border adjustment mechanism will be introduced in 2027. It will ensure that imports face a carbon price that is comparable with domestic products, giving UK industry the confidence to invest without its decarbonisation efforts being undermined. UK steel producers will continue to benefit from high levels of free allowances in the UK emissions trading system until at least the end of 2026, protecting them against carbon leakage via high-emission imports.