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Renewables and the 2004 Budget
Submitted: 17 April 2004
The following items are relevant to renewables.
  • Legislation will be introduced later this year to exempt from fuel duty fuel substitutes used in diesel engines to generate electricity.
  • From Royal Assent, Budget 2004 announces legislation to prevent double taxation of energy products used to create biodiesel and bioblend.
  • From 1 June 2004, the reduced VAT rate for domestic installations of energy-saving materials will be extended to include the domestic installation of ground source heat pumps.
These are extracted from page 198 of the Financial Statement and Budget Report, see link to the document on the Treasury website.

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