(Transcript of the speech, exactly as it was delivered)
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
Statement by Secretary of State Edward Davey on the consultation on energy intensive industries compensation scheme
Secretary of State Edward Davey, said on the consultation on energy intensive industries compensation scheme:
“It is important we ensure that as we move to a low-carbon economy, those industries that are more energy-intensive are not forced to relocate to other countries. This would not only have a negative impact on our economy, but could also result in us exporting emissions to countries that are not as strongly committed to cutting carbon emissions.
“Compensating the most electro-intensive industries will benefit our economy by retaining vital jobs and preserving our manufacturing base, whilst enabling our industries to grow and transition to a green economy.”