Lo says tax cuts for fracking is premature given environmental concerns

Alliance Environment spokesperson Anna Lo MLA has said the proposed tax cuts for firms involved in the extraction of shale gas is premature given the environmental concerns that remain about this process. The proposals by the Chancellor of the Exchequer would reduce the tax on the income that these firms create from 62% to 30%.

Anna Lo MLA said: “These proposals are premature given the environmental concerns of the fracking process that are yet to be addressed.

“We need to wait until proper scientific research is carried out on the fracking process before it is promoted. Given the potential risks to both our health and the local environment, the Government must put a halt to any licences for shale gas extraction until its consequences can be properly examined.

“We should be looking to invest in renewable energy rather than in another fossil fuel. The UK has a lot of potential for tidal and wind power and I would encourage the Government to concentrate on these rather than fracking which is unproven and still has question marks hanging over it.”

ENDS