budget

US President Donald Trump’s has proposed to increase funding for coal while reducing the money available to support schemes for nuclear energy and clean power. Under his latest budget proposal, he would offer $502 million (£361m) for fossil energy research and development, an increase of $81 million (£58m) on the year before, which the President […]

The Chancellor could save £126 million and slash pollution by closing a tax loophole encouraging delivery trucks to use red diesel. That’s according to the Dearman Engine Company, which says an estimated 26,000 cold delivery trucks have two engines – one propelling the truck and the second cooling the storage compartment. While main engines are […]

The UK Government is facing fresh calls to remove tax incentives for diesel vehicles. The Healthy Air Coalition, which brings together medical professionals, environmental and transport groups, is demanding a change to the Vehicle Excise Duty (VED) which they say subsidise diesel cars. In a letter to Chancellor Philip Hammond ahead of the Budget, the […]

The recent oil and gas tax cuts announced by Chancellor George Osborne are “biased towards older, existing assets”, according to an energy analyst. Mr Osborne said he will cut the Supplementary Charge on oil and gas from 20% to 10% and scrap the Petroleum Revenue Tax (PRT). The PRT is a special tax on profits […]

From scrapping the CRC and rebalancing the ratio between power and gas, to investment in energy storage, Osborne’s eighth Budget contained plenty of news for business energy professionals. We now know that businesses’ pleas for simplicity have been answered, from April 2019 we will have a single energy tax and a simplified reporting framework. You […]

  The UK Government has guaranteed tax reliefs for the oil and gas industry and plans to abolish the “bureaucratic and burdensome” Carbon Reduction Commitment (CRC). As part of his Budget announcement today, Chancellor George Osborne said he will cut the Supplementary Charge on oil and gas from 20% to 10% and scrap the Petroleum Revenue […]

Investing in renewable energy generation rather than the government’s current low carbon energy policy could help the UK save around £420 million between 2020 and 2025. That’s according to a report from Green Alliance which added a low carbon generation gap of 20TWh could be created as a result of the current regulations. The ‘Beyond […]

A coalition of businesses are urging the government to keep the legislation that requires some organisations to report on their global greenhouse gas emissions every year. The call comes ahead of the budget announcement next week. Organisations including BT, Aviva Investors, Marks & Spencer, National Grid and Nestle UK & Ireland believe the introduction of […]

Scotland plans to cut its budget to tackle climate change under its draft proposals. WWF’s analysis revealed the Scottish Government is planning to reduce the funding on policies that help tackle climate change for 2016/17 by around 10% to £456.2 million. It follows a commitment the government first made last summer and repeated in the run up […]

The Summer Budget for energy has been slated as “disappointing” and “short-termist”. That’s according to Fuel Poverty Action Co-ordinator Clare Welton. She told ELN: “I think the budget is generally – from our prospective – not a great budget for energy. “What we are seeing is cuts for renewable energy and increased support for the old […]