“This is a great opportunity to re-invigorate our manufacturing sector and bring new research and development, design and construction jobs to areas like Yorkshire, the North East and Scotland. But without stronger government backing the UK risks losing its competitive advantage, and all the jobs and economic activity that CCS could bring.”

The North East of Scotland has been identified as one of the best places in Europe to develop CCS. The Shell and SSE Peterhead CCS project in Aberdeen promises to deliver a world first; a full-scale CCS project at a gas-fired power station. There are also many other CCS projects in Scotland that could be in operation by the end of the decade.

CCSA chief executive Dr Luke Warren said: “This report definitively shows that the successful deployment of CCS has wider benefits for the UK economy. Respected international and UK organisations agree that without CCS in the mix, costs of meeting climate change targets will rise significantly. We have gone further in this report to show that the cost savings from CCS have a real impact on the average UK household – increasing their disposable income and reducing the risk of fuel poverty.”