Buxton joins Woodford in panning 'ludicrous' renewables U-turn

Laura Dew
clock

Old Mutual Global Investors fund manager Richard Buxton has backed Neil Woodford's criticisms of a government decision to cut the tax exemption for renewable energy companies, warning it could render the utilities sector "uninvestable".

Woodford criticised HM Treasury for "back-pedalling" on a decision to support renewable energy companies. The changes announced in the summer Budget on 8 July will see the tax exemption for renewable companies cut, meaning renewable energy generators must now pay the climate change levy aimed at reducing the UK's carbon emissions. Buxton (pictured), manager of the £2.2bn Old Mutual UK Alpha fund, has joined the debate and decried the return of political risk for UK investors. Buxton agreed with Woodford's comments and described the Budget announcement as a "ludicrious and unjustifi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Equities

Investment, Talks Webinar: Changing global patterns can bring new opportunities

Investment, Talks Webinar: Changing global patterns can bring new opportunities

Join Investment Week and Capital Group on the 22nd May at 11am

Hardeep Tawakley
clock 08 May 2025 • 1 min read
Webinar: What's next for equities?

Webinar: What's next for equities?

How can investors navigate the impact of tariffs and a rapidly changing global economy?

Investment Week
clock 08 May 2025 • 1 min read
Will a tech shake-up stop the rise of passives?

Will a tech shake-up stop the rise of passives?

'That kind of built-in safety net is hard to beat'

Laura Suter
clock 18 February 2025 • 2 min read