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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

UK to launch sovereign fund with proceeds from shale gas

Posted on 26 November 2015

The UK is to launch a sovereign wealth fund with the receipts of shale gas revenue, the government has confirmed. First mentioned in July’s Budget, chancellor of the Exchequer George Osborne confirmed its creation during the Autumn Statement, when he pledged to support the shale gas industry “by ensuring communities benefit from a shale wealth fund”.
The UK Treasury also revealed that up to 10% of shale gas tax revenue would be diverted to the new sovereign wealth fund, which it said would invest in local communities “hosting shale gas developments”………………………………………..Full Article: Source


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