UK government unveils proposals for tax breaks for shale gas extraction

In the 2013 Budget, the UK government announced a package of measures designed to encourage investment in the UK’s shale gas industry. On July 19 the government published an open consultation to solicit the views of the energy community and others on more detailed proposals for tax incentives and other measures aimed at encouraging early investment in UK shale gas exploration and exploitation. The UK government has said the plans would make the UK the “most generous” fiscal regime for shale gas in the world.