George Osborne to chair Northern Powerhouse think tank

Former Chancellor George Osborne has taken up a new job as chair of the Northern Powerhouse Partnership. The think tank will bring together businesses and politicians to commission research, share ideas and aim to hold the government to press ahead with devolution for the north. Mr Osborne, who championed the idea of the creating the […]

Osborne’s oil and gas tax cuts biased?

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 […]

Budget 2016: Industry reactions

ELN asks experts in the energy industry for their reactions to the Budget.

Budget 2016: Osborne scraps CRC, raises CCL and cuts tax for oil & gas

  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 […]

Spending Review receives mixed reaction

Chancellor George Osborne’s Spending Review has received mixed reactions from the energy industry. His announcement included replacing the Energy Company Obligation with a “cheaper” efficiency scheme, cutting DECC’s budget by 22%. Funding for the renewables and nuclear industry has also been increased and the government has pledged to back fracking. It has been labelled “nonsensical” by Greenpeace. Policy Director, Doug Parr […]

Spending Review: Support for fracking and green energy, DECC budget slashed

  The UK Government has pledged to back both the fracking and renewable energy industry. Chancellor George Osborne made the announcement today as part of the Spending Review, which sets out his plans for the next four years. He said the goal is to invest in the long term economic infrastructure of the UK “and […]

‘Only 29% of Brits back Hinkley nuclear project’

Less than a third of people in the UK back the government’s plans to build a new nuclear power station at Hinkley Point in Somerset. A survey by Greenpeace, which asked more than 2,000 citizens, reveals only 29% of respondents support the nuclear plans. On the other hand 34% of them said they are against it. The survey […]

New infrastructure commission to secure energy supply in the UK

Chancellor George Osborne has unveiled plans of a new National Infrastructure Commission. It will advise ministers on ways to improve the energy network in order to boost and secure energy supply in the country. The commission will also support construction of major roads, rails and houses. Former Secretary of State for Transport Lord Andrew Adonis will lead […]

Davey slams George Osborne’s green cuts as ‘economic idiocy’

Former Energy Secretary Ed Davey slammed the Chancellor’s renewable energy cuts as “economic idiocy”. He accused George Osborne of wanting to dominate the government, claiming “he’s telling not just DECC but other parts of the government what to do”. Mr Davey told ELN: “I’m afraid George Osborne is very anti-renewables, he doesn’t understand the economics […]

Firms urge Osborne “reconsider zero carbon homes”

More than 200 businesses have urged the Chancellor to reconsider the government’s decision to end the zero carbon homes policy. In the “Fixing the Foundations” plan, George Osborne axed the policy which was designed to ensure all new homes built from 2016 would meet zero carbon standards. Mr Osborne also terminated a sister policy which applied to all […]