UK govt plans ‘generous’ tax break for shale gas investment

Posted: July 19, 2013 in Politica si politici
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The UK government has announced plans for a shale gas ‘pad’ allowance, which will see the tax on revenue that companies make from producing shale gas reduced from 62% to 30%. The plans are based on existing allowances for oil and gas production which aim to support almost £14 billion of investment next year and are being touted as the most generous shale incentives in the world.

According to Chancellor of the Exchequer George Osborne: “We want to create the right conditions for industry to explore and unlock that potential in a way that allows communities to share in the benefits… I want Britain to be a leader of the shale gas revolution because it has the potential to create thousands of jobs and keep energy bills low for millions of people.”

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UK govt plans ‘generous’ tax break for shale gas investment

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