28 February 2023
Aldous calls for urgent fiscal and regulatory action to ensure investment in offshore wind

Peter Aldous calls on the Government to use the forthcoming Budget to introduce new tax incentives and to reform capital allowances to ensure that the UK remains an attractive place to invest in offshore wind.

Peter Aldous (Waveney) (Con)

T8. Offshore wind is a great British success story, but fiscal and regulatory action is urgently required if the UK is to remain an attractive place to invest. Can my right hon. Friend thus confirm that, ahead of the Budget, he is working with the Treasury to introduce new tax incentives and to reform capital allowances so that the UK can compete with other countries, such as the US and those in the EU? (903815)

The Minister of State, Department for Energy Security and Net Zero (Graham Stuart)

I am sure my hon. Friend is as delighted as I am that the United States and the EU are now following our lead in developing renewables, including offshore wind. We work closely with the Chancellor to ensure that the UK remains, as it has been consistently under this Government, the best place in the world in which to invest in offshore wind.

Hansard