Green Technologies Win Capital Breaks

Green Technologies Win Capital Breaks ; Green Taxes

IRELAND

Oct 03 - Belfast Telegraph

Energy-saving fridges and solar heaters were among a list of "green technologies" that will qualify for enhanced capital allowances designed to protect the environment.

The Chancellor responded to the green lobby with a package of environmentally friendly measures, including incentives to businesses to use energy that will not lead to global warming.

Gordon Brown announced that electricity generated by combined heat and power stations, which use their energy more efficiently than many conventional power stations, would be exempt from the climate change levy. Electricity produced from methane in coal mines will also be exempt from the charge, to try to reduce emissions of the gas.

The Chancellor announced that five more energy-saving technologies would be added to a list that qualifies for capital allowances. They include radiant and warm air heaters, energy efficient refrigeration equipment, solar heaters and heat pumps.

He announced plans to encourage the use of green fuels, including the exemption of hydrogen from fuel duty for a short time.

The Treasury also reaffirmed its intention to raise the rate of landfill tax and to provide tax incentives to improve household energy efficiency.

Yesterday the Chancellor said: "Economic efficiency and environmental protection can go hand in hand. We are today showing that environmental protection can be achieved by working with business and consumers, harnessing the power of markets rather than working against them."

Mr Brown's announcements to encourage fuel efficiency and help prevent climate change received a cautious welcome from environmental groups. But Friends of the Earth criticised the Chancellor for failing to introduce direct green taxes.

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