Government budget proposal disappointing for the wind market

The Finnish government's budget proposal for 2003 has proved disappointing for the wind market, containing little in the way of additional tax breaks and incentives. The budget allocates EUR 753 million to environmental spending -- a 4% increase on 2002 levels. Subsidies for renewable energy and energy saving remains at EUR 30 million. Of this, EUR 14 million is allocated for wind energy projects, a 2% increase on 2002. The lack of significant new funding reflects the absence of any contribution from the Greens, which resigned from prime minister Paavo Lipponen's five party coalition government in May following a vote allowing power company Teollisuuden Voima Oy to build a fifth nuclear reactor.