The government has proposed tax breaks for shale gas exploration in the UK. What are the repercussions of this policy?
In last week’s poll, we asked about the repercussions of the government’s proposed tax breaks on shale gas exploration and production. The largest proportion of respondents were were shale fracking supporters: 33 per cent said that the tax breaks would unlocking investment in shale gas. The next-largest were in favour of wider use of this type of policy: 31 per cent said there should be more tax breaks to encourage investment in green technologies. Remaining respondents were more cautious about shale gas — 22 per cent said that tapping this resource wasn’t in line with EU targets for carbon emissions reduction, while 14 per cent said that the tax breaks were essentially useless because there isn’t enough shale gas in the UK to meet demand.
Do you agree with these conclusions? Is UK fracking likely to be fruitful, or frightful? Is enough being done to allay environmental concerns? Should this policy have been applied to low-carbon technologies first? Let us know below.