Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Energy, roads and flood defences feature in Budget

The chancellor announced a range of measures to help energy-intensive manufacturers, including steel makers, in the Budget today.

He said he would cap the carbon price support rate to £18 per tonne of carbon dioxide from 2016/17 for the rest of the decade.

George Osborne told Parliament that the move would save a mid-sized manufacturer almost £50,000 a year.

He said there would be an extension to the compensation for energy intensive manufacturers for four more years to 2019/20.

There would also be an extra £1bn of compensation to reduce the impact of green levies on the bills of energy-intensive manufacturers

Electricity from combined heat and power plants would be protected from the carbon price floor.

Mr Osborne also said the Budget would provide a £200m challenge fund in 2014/15 that councils could bid for to repair potholes.

He also announced £140m to repair flood defences. The Budget document said £100m would be spent in 2014/15 and £70m in 2015/16.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.

Related Jobs