Budget 2011 response: Fiscally green but misguided move for small wind and solar farms
MacIntyre Hudson, the top 20 accountancy firm, has found a surprisingly green tax revenue stream in the budget. Despite the fuel tax giveaway the figures add up to show a greener budget than some have declared.
Katharine Arthur, Tax Principal, has crunched the figures: "Over the five tax years from April 2011, tax revenues from motoring and environmental taxes will be just over £4bn.
"However, there is one policy decision which is hugely disappointing. Electricity-generating businesses which receive income from the feed in tariff are, in the future, to be excluded from EIS and VCT reliefs, unless commercial electricity generation commences before 6 April 2012. The Government has made much of the need to encourage SMEs in green industries, so this is a misguided move, as it will reduce investment in small wind and solar farms."
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Media Contacts
Katharine Arthur is available for budget comment. Contact Carole Scott or Kate Baker in the MacIntyre Hudson Budget Press Office:
Carole: 07791 253436
Kate: 07949 565585
MacIntyre Hudson landline: 0207 429 4100
