As part of the Government's commitment to introduce greener fuels, Financial Secretary Paul Boateng ...
As part of the Government's commitment to introduce greener fuels, Financial Secretary Paul Boateng has announced the start of the consultation programme offering tax incentives to businesses investing in environmentally-friendly technologies.
Following the announcements made in this year's Budget about reductions in fuel duty for greener fuels, the Government is also inviting further proposals for pilot projects under the Green Fuel Challenge.
In addition to the already enhanced capital allowances for energy-efficient investments firms can gain first-year capital allowances for investments in environmentally friendly technologies helping businesses to reduce their energy use.
The Government is inviting applications from those seeking exemptions or reductions from excise duty so that pilot projects can be established to assess the benefits of new, greener fuels such as hydrogen, methanol, bioethanol and biogas.
Financial Secretary Paul Boateng said: "As the Prime Minister said in his speech to World Wildlife Fund Confederation earlier this year, the interests of business, technology and environmental protection go hand-in-hand.
"The Green Technology Challenge aims to encourage, promote and reward green action and facilitate the diffusion of new technologies. It is not just about making the most of the best technologies available today, but about helping industry to develop the next generation of environmentally friendly technologies."
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