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My word and what a surprise

It looks like some lefties have been telling porkies:

Proposed onshore wind farms that could power more than a million homes are at risk of not being built because of the tax on electricity generators, their developer has warned.

Community Windpower said it was prepared to invest £1.5 billion in the three “shovel-ready” projects in Scotland, all of which could be finished by 2025.

However, the company said the electricity generator levy, announced in November and due to be legislated for in the spring finance bill, had rendered them unviable amid soaring financing and construction costs.

Peoplpe do look at the post-tax return when deciding whether to invest. Therefore higher taxes on investment returns reduces the amount of investment.

Abolish corporation tax now!

5 thoughts on “My word and what a surprise”

  1. I’m all in favour of anything which prevents more unreliables entering the power mix and fucking things up even more than they are fucked up already.

    More wind farms = more taxpayer / bill payer subsidy. Why the hell would anyone support building them?

  2. Investors also look at the stability of the regulations. Banning onshore wind, then relaxing the rules, banning offshore oil, fiddling with feed in tariffs, introducing windfall taxes… The UK is not a safe place to invest.

  3. I was reading much the same in the Torygraph, yesterday. Which goes to show, doesn’t it? Not everything in the newspapers is gloom & despondency.

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