Fracking benefit scroungers’ charter announced today
The government today announced it’s subsidy package for fracking companies. The result will be huge tax cuts – from 62% to 30%, but even rabid pro-frackers like Peter Lilley admit that they are not needed!
Lilley said in parliament as recently as yesterday that
I was the only member of the Energy and Climate Change Committee who criticised, as she does, the suggested special tax breaks for fracking. On the basis of my knowledge of the oil and gas industry, I think that they are probably unnecessary, and we should not give away unnecessary tax breaks.
and in these times of austerity he is undoubtedly right about at least that!
Francis Egan speaking to the Energy and Climate Change Committee said :
“We are not asking for a special regime.”
So why is our government intent on subsidising shale like this against the advice of it’s own members and the wishes of the industry itself?
Local industry expert Mike Hill estimates that these subsidies will cost up to five time as much as we pay in subsidies for renewable energy.
And why is the government so keen to publish details of subsidies yet fails to publish the promised details of new planning regulations on schedule?
We would also like to know what part, if any, did Lord Howell (Osborne’s father in law) and Lord Browne play in this ludicrous benefit scroungers handout?
We all need to be asking these questions.