Budget announcements affecting the renewable energy sector

The 2013 Budget announced by Chancellor George Osborne on 20 March 2013 contained little or no news for the renewable energy sector (to the disappointment of those involved in that sector), while significant announcements were made on shale gas, oilfield decommissioning costs and carbon capture and storage.

The Chancellor stated that a successful UK shale gas industry has the potential to provide new employment and support UK energy security, benefiting the economy, taxpayers and communities. Although potentially deflecting from the drive to reduce reliance on fossil fuels, without a strategy to exploit shale gas the UK economy could be massively disadvantaged compared to competing economies based on lower energy costs, such as the USA…

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