Budget branded a ‘setback’ for CHP

George Osborne’s 2012 Budget has been branded a major “setback” for manufacturing and for the Combined Heat and Power sector. The trade body Combined Heat and Power Association (CHPA) is concerned thousands of jobs in manufacturing could be threatened by planned cuts to tax incentives. Many large energy users such as refineries, chemical plants and […]

Budget: CRC could be replaced by new ‘environmental tax’

The Carbon Reduction Commitment could potentially be replaced by an “alternative environmental tax” if it can’t be simplified, Chancellor George Osborne announced today. Unveiling details of the Budget for 2012, Mr Osborne criticised the CRC, introduced by the Labour Government in 2008, for being “cumbersome” and “bureacratic” and suggested he wanted to lighten the burden […]

Budget 2012: Osborne thirsty for North Sea oil

Chancellor of the Exchequer George Osborne has guaranteed tax relief for the decommissioning of North Sea oil and gas as he aims to stimulate investment in Britain’s energy sector. Mr Osborne said his 2012 Budget would support renewable energy, but warned that “environmentally sustainable has to be fiscally sustainable too.” Mr Osborne told Parliament he […]

Chancellor says energy in mind for Budget

After receiving the boost of an Emissions Performance Standard from DECC this weekend, the gas industry was told by George Osborne he would work on securing further investment for the North Sea. The Chancellor or the Exchequer said: “As we work towards a new gas strategy in the autumn, Treasury ministers will host a roundtable […]