Given the scale of the funding announced for the first five projects and the size of the contingent liabilities that the Department has recognised for its underwriting of the programme, the potential costs to taxpayers and consumers are huge. The Department intends to manage the risks through a series of business models that it has developed for each sector that CCUS 14 Q 12 15 C&AG’s Report, para 1.5 16 Q 12 17 C&AG’s Report, para 14 18 Government reignites industrial heartlands 10 days out ...

Given the scale of the funding announced for the first five projects and the size of the contingent liabilities that the Department has recognised for its underwriting of the programme, the potential costs to taxpayers and consumers are huge. The Department intends to manage the risks through a series of business models that it has developed for each sector that CCUS 14 Q 12 15 C&AG’s Report, para 1.5 16 Q 12 17 C&AG’s Report, para 14 18 Government reignites industrial heartlands 10 days out from the International Investment Summit – GOV.UK 19 Written statements – Written questions, answers and statements – UK Parliament Statement HCWS211, 13 Type: conclusion | Number: 9 | Response status: not_addressed Government response: 1. PAC conclusion: The Department is taking a high–risk approach by backing first– of–a–kind, unproven technologies with large amounts of taxpayer and consumer funding. 1. PAC recommendation: The Department should, as the projects it is supporting progress, make s