Solar VCT providers pull products after govt subsidy shift

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Providers of Solar VCT investments have moved to close their latest schemes after the government proposed bringing forward the deadline for slashing subsidies.

The government proposed last week to bring forward a planned reduction in fee-in-tariff rates to 12 December this year, in a move which slashes the subsidy received by investors by 55%. Previously, projects which were connected before the end of March would have received the higher rate of subsidy. The move - which is widely expected to come into effect despite officially being just a proposal at present - has caused VCT providers to scrap planned launches and close current offers. VCT provider Downing is closing its Downing Low Carbon EIS Fund 3 today after the change, warning it ...

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