SMI responds to government consultation on the guidance for the Subsidy Control Act 2022

The Society of Maritime Industries (SMI) has submitted its official response to the consultation launched by the Department for Business, Energy and Industrial Strategy (BEIS) on the guidance for the new subsidy control regime coming into effect as a result of the Subsidy Control Act 2022.

As the trade association for the UK’s maritime engineering, science and technology community, SMI welcomes the opportunity to provide its input on the official guidance for the new subsidy control regime by making a number of recommendations which will help all stakeholders to better understand this new system. Reiterating the importance of making sure that the new regime enables the maritime sector to compete on a level playing field with international competitors, we invite the Government to:

• monitor how other jurisdictions structure their own subsidy control systems, taking action to update the current guidance to ensure the UK remains a competitive place to do business;
• make sure that the guidance does not prevent public authorities from enabling key sectors such as maritime to stimulate investment and promote growth opportunities;
• publish a separate briefing listing the UK’s obligations under WTO rules, as well as specific examples of subsidies and subsidy schemes that do not fall within the new system’s purview.
   

You can read SMI’s response to the BEIS consultation on the guidance for the Subsidy Control Act 2022 here.