Pre-Budget Report 2009 - Darling places boilers and energy centre stage
"The Chancellor placed energy centre-stage in his pre-budget report but it was not all good news".
Wednesday, 9 December 2009
Derrick Parkes, KPMG's head of energy tax, said :
"The Chancellor placed energy centre-stage in his pre-budget report but it was not all good news
"The new boiler scrappage scheme will help 125,000 upgrade to greener boilers - which will hopefully prove to be as successful as the scheme piloted in the automotive sector and will be good news for UK industry and potentially stimulate employment.
The increased support for wind-farms and carbon capture storage will be welcome news for investors but will be funded by transfer payments from electricity suppliers.
"The formation of Infrastructure UK will help to facilitate infrastructure projects and speed up energy developments and help close the expected energy supply gap in 2016 - 2020. The increase in national insurance contributions from 2011 will also increase total payroll costs and the energy suppliers are being asked to support one million vulnerable households to the tune of £300 million by 2013 - 2014.
Ends
Pre-budget report media hotline: 0207 694 8773
For further information please contact:
Emma Murray
Tel: 0207 694 6506
Email: emma.murray@kpmg.co.uk
Follow us on Twitter: http://twitter.com/kpmgbudget
About KPMG: KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with 11,500 partners and staff. The UK firm recorded a turnover of €2.2 billion in the year ended September 2008. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 148 countries and have more than 113,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International, a Swiss cooperative. KPMG International provides no client services.