Wednesday, March 22, 2006

UK Finance Minister's budget: key energy-related announcements

Important energy and environmental announcements made by the UK Chancellor of the Exchequer Gordon Brown in his Budget statement included:

  • An increase in the climate change levy, in line with inflation, from 1 April 2007.
  • An extra 250,000 installations of subsidised insulation in British homes over the next two years
  • Funding for local authority-led publicity and incentive schemes for energy efficiency
  • Trialling the use of 'smart' energy meters
  • A new voluntary initiative with major retailers to reduce the energy use of consumer electronics.
  • A new National Institute of Energy Technologies, in partnership with the private sector.
  • An additional £50 million to develop microgeneration technologies and the launch of a consultation document on the barriers to large-scale commercial deployment in the UK of carbon capture and storage.
  • Reforms to the tax on road vehicle (vehicle excise duty - VED) to sharpen environmental incentives.

Full details can be found here

and the full Budget speech here

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