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UK proposes shale gas sovereign wealth fund

Posted on 11 November 2014

George Osborne says money from shale gas production could create fund for north of England. A plan for new shale gas tax revenues to be deployed in a UK sovereign wealth fund is to be debated in the House of Lords on Monday.
Energy and climate change secretary Ed Davey said over the weekend that the proposed fund would be set up once commercial production of shale gas begins. “It’s about storing the financial benefits of shale production and putting it towards a low-carbon energy future,” he added. “It’s part of this government’s broader strategy to strengthen our security of supply in a cost-effective way for future generations.”……………………………………….Full Article: Source


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