Bulletin

Brussels allows state aid for UK steel industry

Brussels allows state aid for UK steel industry

Steel plants and other energy-intensive industries have secured a £400m reduction in their electricity bills. The European Commission has given approval for the UK Government to compensate companies that are hit particularly hard by levies to help fund taxpayer subsidies for investment in renewable energy projects. Ministers had to ask the EU for permission as such compensation is classed as state aid. It is estimated that up to 200 companies spend more than 20% of their GVA in energy bills. They will still have to pay the levy until April 2017 but will now be refunded by taxpayers.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Spain

Santander takes 12 UK food and drink manufacturers to Spain on one of our successful trade missions. Adam Payne in the international team…

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Getting a taste for Spain!

Santander takes 12 UK food and drink manufacturers to Spain on one of our Trade Missions. Alicia Ferrero Vega in the International team…

Bulletin

Where Next?