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Meacher calls for more fiscal incentives for renewables
1 August 2000
Environment minister Michael Meacher has admitted the government is not doing enough to provide fiscal incentives to encourage renewable energy. The Treasury needs to make extra funding available for offshore wind and energy crops, says Meacher. Speaking at a conference on July 6 in London organised by the Parliamentary Renewable and Sustainable Energy Group, he agreed that capital grants of £10 million -- the figure widely rumoured to be available for offshore wind and energy crops -- would not be enough. "I find it difficult to defend £10 million as adequate," he said. "If we are going to get the take-off that we need, there is no alternative but adequate fiscal incentives." The government's own target of 10% of electricity from renewables by 2010 will be "inaccessible" with the levels of support on the table, he added. Meacher was hoping that extra funds for offshore wind and energy crops would be announced in July, but instead of a firm allocation, the Treasury has merely stated: "There is extra help ... for the promotion of renewable energy."
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