One might expect the Chancellor of the Exchequer of all people to be aware of where tax comes from!
Here is how the government defines the potential Shale Gas Wealth fund in its consultation document:
So it is quite clear that it would be funded from “tax revenues” and will be “additional to any benefits provided by the shale industry through its community benefits package”
How strange then that when questioned yesterday in Parliament by Tom Elliot about the source of the money – was it Treasury money or funded by the frackers , Mr Hammond responded “It’s money coming from the companies”
So according to him tax receipts are not treasury money. Funny that!