Last Wednesday (30 June) the Government’s Subsidy Control Bill was introduced to Parliament. It set out the Government’s legislative proposal for a new UK subsidy control regime now that the UK has left the EU.
The regime will enable public authorities, including devolved administrations and local authorities, to deliver subsidies that are tailored and bespoke for local needs. They will be used to deliver government priorities such as supporting the economy’s recovery from COVID-19, levelling up and achieving net zero carbon.
Previously the UK followed EU state aid rules. The UK Government says the new system will be able to support companies faster, although the EU’s rules will continue to apply to certain UK subsidies under the Northern Ireland Protocol, superseding any domestic UK legal framework.
For more details about the Subsidy Control Bill visit the gov.uk website.