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 transforming cooking oil into biodiesel presently 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 actually been meeting with the UK sustainable biodiesel alliance.
Mr George stated "a number of small companies in Cornwall presently make cash from utilized cooking oil".
He added: "In order to have the ability to get this type of market going it does require simply a little bit of lift which can be found in the form of tax foregone."
Biodiesel is a blend of traditional diesel, rapeseed and vegetable oils.
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