Julie Elliott – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Julie Elliott on 2014-03-31.

To ask Mr Chancellor of the Exchequer, what discussions he had with investors in renewable energy before the changes to the Enterprise Investment Scheme on tax breaks for companies benefiting from the Renewables Obligation.

Mr David Gauke

Budget 2014 announced that companies benefiting from Renewables Obligation Certificates (ROCs) and/or the Renewable Heat Incentive (RHI) scheme will be excluded from the venture capital schemes, including the enterprise investment scheme.

This change ensures the venture capital schemes continue to support smaller and growing businesses in a targeted and effective way. The government consulted extensively with stakeholders when similar action was taken to exclude companies benefitting from Feed-in-Tariffs from the venture capital schemes in 2011.

Further information on the detail of the change will be published shortly, ahead of the publication of an impact assessment and legislation.