MP backs biodiesel tax break campaign

29 June 2011

Liberal Democrat George is backing a campaign to keep tax breaks for companies who produce biodiesel.

Producers transforming cooking oil into biodiesel currently gain from a 20p differential but that is because of end next April.

The St Ives MP, who leads the Lib Dem Environment Team, has been consulting with the UK sustainable biodiesel alliance.

Mr George stated “a variety of small companies in Cornwall currently make cash from used cooking oil”.

He included: “In order to have the ability to get this sort of market going it does need just a little bit of lift which can be found in the kind of tax inevitable.”

Biodiesel is a mix of conventional diesel, rapeseed and vegetable oils.

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