The government that boasted it would be “greenest government ever” has an unimpressive record of providing generous tax breaks to the fossil fuel industry while cutting investment in solar and wind. George Osborne’s latest announcement is the most outrageous yet.
The Chancellor has revealed that shale gas production will receive a mammoth tax cut. It will now be set a tax level of 30%, less than half that of oil production. In fact, this is the most generous tax rate for fracking anywhere in the world.
Why, exactly, a supposedly economically viable industry would need such a monstrous sweetener has not been answered.
Giving the fossil fuel industry, in old or new guises, outrageous incentives is not in the least green. Tell Mr Osborne to stop propping up this deadly industry and focus on genuine renewables.
We the undersigned ask that you immediately cancel plans to give shale gas production a ridiculously generous tax rate of 30%. We the British public do not wish to indirectly pay to prop up the fossil fuel industry and further increase the country’s carbon emissions.
If shale production is not economically viable without such help from government, it is not economically viable.
Please keep such incentives and support for the renewable energy industries the UK’s self-declared “greenest government ever” should be encouraging.
Thank you for your attention.