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<p>The 2021 Spending Review allocated £0.3bn to Carbon Capture, Usage and Storage (CCUS) for FY23/24. This funding supports the Government’s ambition for CCUS in four industrial clusters by 2030. On 15 March 2023 the Chancellor announced an up to £20 billion investment in the early development of CCUS and, on 30 March, the Government announced the eight HyNet and East Coast Cluster projects to proceed to negotiations for support through the relevant Business Models. Following this, the Government expects some adjustment to the timing of spend to reflect the pace of deployment.</p> |