Shale fund demonstrates Government’s desire to win over public
3 December 2014
Commenting on the Chancellor’s proposals for the UK shale industry, Roman Webber, partner and head of tax for energy and resources at Deloitte, said:
“The proposed creation of a long-term investment fund for areas affected by the shale gas industry demonstrate the Government’s continuing attempts to win over the British public, many of whom remain extremely wary of shale. By taking the unusual step of ring fencing shale tax receipts for the local areas, the Government is underlining the long-term fiscal benefits that the UK industry could drive. However, it will be some time before we know whether this fledgling industry is economically viable, especially as the oil price continues to fall, making it hard to predict what the potential future value of the UK shale fund will be.”
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Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
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