MP backs biodiesel tax break project
29 June 2011
Liberal Democrat MP Andrew George is backing a campaign to keep tax breaks for companies who produce biodiesel.
Producers converting cooking oil into biodiesel currently benefit from a 20p differential but that is due to 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 number of small companies in Cornwall presently make money from used cooking oil".
He added: "In order to have the ability to get this sort of industry going it does need just a bit of lift which comes in the type of tax foregone."
Biodiesel is a blend of conventional diesel, rapeseed and vegetable oils.
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