Pre-Budget 2008: Govt to retain renewable obligation
Chancellor Alistair Darling has announced today that the government will retain its Renewable Obligation by at least ten years in his Pre-Budget report today.
Mr Darling said he was introducing a green stimulus, ensuring part of the fiscal stimulus supports low-carbon growth and jobs by accelerating £535 million of capital spending on energy efficiency, rail transport and adaptive measures.
The chancellor said that following a fall in pump prices of over 20 pence per litre from the summer price, the postponed twp pence per litre fuel duty increase will go ahead from December 1st.
He said that this winter will see 600,000 insulation measures this winter, up 70 per cent from last winter as part of the Home Energy Saving Programme.
The Pre-Budget Report claimed that half of the £6.8 billion programme would be funded by energy companies, which would help households save up to £300 a year on energy bills.
In air passenger duty, from November next year there will a change from two to four distance bands to improve environmental signals.
“The government has decided not to proceed with a per-plane tax in order to ensure greater stability and protect competitiveness at a time of economic uncertainty,” the Treasury states.
More follows.
