Isabel Hardman Isabel Hardman

Are fracking tax breaks really necessary?

George Osborne is taking the ‘global race’ to a new level today. The Chancellor is not just allowing Britain to enter the fracking revolution by unveiling a shale gas allowance, he’s also offering the most generous tax breaks in the world for the exploitation. The allowance will mean shale production income will be taxed at 30 per cent rather than 62 per cent.

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