10 Oct '12, 4pm

Osborne's on his 5th tax break for fossil fuels in 7 months. @powellds looks into the murky world of the Treasury.

Call it the George Osborne effect At Conservative party conference on Monday, Chancellor George Osborne cheerfully unveiled his fifth (fifth!) tax break for fossil fuels in the space of just a few months. To be fair, this was in the main one of his less ghastly speeches for the environment of recent years. He said something nice about renewable energy and didn't appear to have gritted teeth or be kicking a kitten in the face whilst doing it. But lo and behold, yet more Government support for those poor struggling paupers of the oil and gas industry. They've not had a bad seven months: The first two tax breaks were in the March Budget . The suits jumped up and down in paroxysms of glee, which tells you everything you need to know Just three months later (what's the point of a Budget, anyway?), a new £500m field allowance for shallow-water gas field s In September, a £250-50...

Full article: http://www.foe.co.uk/blog/osborne_shale_tax_37472.html

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