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 benefit from a 20p differential however that is due to end next April.

The St Ives MP, who leads the Lib Dem Environment Team, has actually been meeting the UK sustainable alliance.

Mr George stated "a variety of small companies in Cornwall currently earn money from used cooking oil".

He added: "In order to have the ability to get this sort of market going it does need simply a bit of lift which can be found in the kind of tax foregone."

Biodiesel is a mix of standard diesel, rapeseed and vegetable oils.

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