George Osborne proposes to give shale gas companies a ‘generous’ tax regime

At the Conservative party conference this week, George Osborne, the UK Chancellor of the Exchequer, said that he was “consulting on a generous new tax regime for shale”.  If this proposal materialises, it means greater profits for the gas companies and even less potential revenue for the UK government.

OSBORNE

As a representative from FoE pointed out:

“The chancellor clearly isn’t listening to the increasingly vociferous warnings from leading politicians, businesses and climate experts about his reckless dash for gas. With a fossil-fuelled economic strategy firmly rooted in the 1970s, George Osborne is looking increasingly incapable of dealing with the challenges and opportunities of the 21st century.”

Meanwhile one of Osborne’s own colleagues, Laura Sandys, Conservative MP and part of the ministerial team at the Department of Energy and Climate Change (Decc), highlighted the problem of public opposition shale gas is likely to face: “Onshore wind is a walk in the park, by comparison.”

Read the full article here: Can George Osborne give shale gas a boost with a ‘generous’ tax regime? | Environment | guardian.co.uk.

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