HANSARDCommons18 May 20204 contributions
Hydrogen Technology
Jacob Young (Redcar) (Con)
What fiscal steps he is taking to incentivise funding in hydrogen technology.
My hon. Friend is right that hydrogen could play an important role in our transition to net zero, which is why we are investing up to £121 million to support a range of projects to explore and develop the potential of low-carbon hydrogen technology.
Does my hon. Friend agree that incentivising low-carbon technologies such as hydrogen and carbon capture and storage will aid us in our recovery, help the Government to reach their net zero targets, and level up across all regions of the UK?
My hon. Friend is absolutely right. Budget 2020 announced at least £800 million to develop carbon capture and storage infrastructure, and my hon. Friend will of course know that Teesside is one of four sites under consideration for support through that funding.