MP backs biodiesel tax break project
29 June 2011
Liberal Democrat MP Andrew George is backing a project to keep tax breaks for companies who produce biodiesel.
Producers converting cooking oil into biodiesel presently take advantage of a 20p differential but that is due to end next April.
The St Ives MP, who leads the Lib Dem Environment Team, has actually been consulting with the UK sustainable biodiesel alliance.
Mr George said "a variety of small businesses in Cornwall presently make cash from utilized cooking oil".
He added: "In order to have the ability to get this type of industry going it does need just a little bit of lift which can be found in the form of tax foregone."
Biodiesel is a blend of standard diesel, rapeseed and vegetable oils.
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