MP backs biodiesel tax break project

29 June 2011

Liberal Democrat MP Andrew George is backing a project to keep tax breaks for business who produce biodiesel.

Producers transforming cooking oil into biodiesel presently gain from a 20p differential however that is due to end next April.

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

Mr George stated "a variety of small companies in Cornwall currently earn money from utilized cooking oil".

He added: "In order to have the ability to get this sort of industry going it does need simply a bit of lift which comes in the kind of tax foregone."

Biodiesel is a blend of standard diesel, rapeseed and vegetable oils.

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