Newspaper article The Journal (Newcastle, England)

Green Energy under Attack

Newspaper article The Journal (Newcastle, England)

Green Energy under Attack

Article excerpt

AS well as ending the Climate Change Levy the Budget also increased taxes on electric vehicles whilst confirming the introduction of tax breaks for the North Sea oil and gas introduced in the March Budget.

George Osborne said the current system of discounting or waiving vehicle excise duty (VED) for greener vehicles "isn't sustainable and it isn't fair", as he explained that by 2017 over three-quarters of new cars would be certified as low-emissions vehicles and therefore not liable for VED.

Under the new scheme, VED will be split into three bands; zero emissions, standard and premium. Most new cars will pay the "standard" rate of PS140, except in the first year of ownership when tax will continue be linked to C02 emissions.

He also confirmed measure for the oil and gas industry which had included a new investment allowance to be introduced alongside the reduction in the supplementary tax.

Mr Osborne said he would also reassess the merits of other green measures and last Friday the Government said it was scrapping plans to make all homes zerocarbon by 2016. …

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