Wind energy tax relief
BUSINESS: Chief Secretary to the Treasury Danny Alexander has announced extra tax breaks for offshore wind in the Humber.
The news came as he spoke to 250 business people at the launch of the new Humber Local Enterprise Partnership Forum, held in Willerby.
Mr Alexander confirmed that HM Treasury had approved the Humber LEP's request to extend Enhanced Capital Allowances (ECAs) to the Paull site in the LEP's second Enterprise Zone.
The breaks could support up to £200 million of investment in addition to £300 million of investment on the first Enterprise Zone.
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He said: "The Humber has the potential to establish itself as a world-class renewable energy hub.
"This will help attract companies that can benefit from simplified planning processes, superfast broadband, and tax breaks, including discounted business rates."
Comments
by Jasbee
Wednesday, March 14 2012, 1:45PM
“They need all the breaks they can get. Wind has always been a rip off. Wind speed in GY this morning : 14km/h. Power Generation : nil. Good job those fossil fuel driven generators are hard at it as always. The consumers will continue to pay for follies that don't work.”