Autumn statement 2013: Chancellor reaffirms commitment to shale gas industry
The chancellor has promised “thousands of jobs, billions of pounds of investment and lower energy bills” today as he announced plans to boost Britain's fledgling shale gas industry by cutting in half taxes on fracking.
The shale gas tax cut – from 62 per cent to 30 per cent - was part of a well-trailed series of measures announced today that are designed to reduce energy bills while boosting the fracking industry.
The other measures include a £50 reduction in annual household energy bills as George Osborne watered down varies green levies, including the Energy Company Obligation (ECO), which obliges the big six to insulate some of the poorest households.
He also cancelled next year’s 2p rise in the price of a litre of petrol prices, the latest in a series of price freezes which means people are now paying 20p less a litre than they would under a Labour government, Osborne said.
Taking a swipe at Ed Miliband’s recent pledge to freeze energy bills if elected prime minister, Osborne said: “We are not pretending we can control world oil prices, we are focusing on what governments can and should control….We are supporting the lowest income families, reducing carbon and supporting investment in renewables,” he said.
Ed Balls, the shadow chancellor, responded by saying Osborne’s move to cut energy bills represented a “panicked and half-baked attempt to steal Labour’s clothes”.
- 1 Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
- 2 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 3 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 4 What are your fingerprint words?
- 5 Gary Lineker involved in Twitter row after presenter rubbishes claims he will be warned by BBC over foul-mouthed tweets
Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Jennifer Lawrence: Leaked 4Chan sex video branded 'fake' by users
Jennifer Lawrence 'naked sex video' will be leaked next, threatens 4Chan celebrity photo hacker
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...