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ARTICLE · 21 MARCH 2013

Budget 2013: Climate Change And Energy

Smith & Williamson
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A summary of the climate and energy initiatives the chancellor announced yesterday.

United KingdomGovernment, Public Sector
Kate Harrison
Kate Harrison
Tamsyn McLennan
Tamsyn McLennan

On climate and energy initiatives the chancellor announced:

  • Yesterday's planning approval for a nuclear plant at Hinkley Point;
  • Exemptions from the climate change levy for energy used in metallurgical and mineralogical processes;
  • Field allowances to encourage investment in developing shale gas resources;
  • The taking forward of projects to develop carbon capture and storage technology.

"These announcements on climate and energy initiatives indicate the government is alive to concerns about securing the country's future energy needs and the drive to achieve this in an environmentally friendly manner without choking off those industries least able to deal with the change," Chris Lallemand of Smith & Williamson, the accountancy and investment management group

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