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

Britons will decide how to spend $1.3 bln shale gas fund

Posted on 10 August 2016

Britons living near “fracking” developments will be able to decide how a 1 billion pound shale gas wealth fund should be spent, either by accepting direct personal payments or supporting projects such as railways or flood defences, the government said on Monday.
Prime Minister Theresa May announced on Sunday that some tax proceeds from new shale gas developments could go directly into local residents’ pockets, showing her support for the nascent industry that she hopes can ease Britain’s growing reliance on imported gas………………………………………..Full Article: Source


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