By Sarah Left, 10 December 1999 16:30
NEWS The UK government is seeking ideas from industry on how best to spend the £150m it has set aside for energy efficiency tax credits. Under the proposed Enhanced Capital Allowances scheme, businesses who invest in energy-saving technologies will be able set the entire cost of the investment against their corporation or income tax bills in the year of purchase. The money will be made available in the 2001-2002 tax year. Technologies that will qualify for the credit currently include combined heat and power, boiler systems, motors, variable speed drives and lighting systems. To participate in the consultation process, consult the Department of Environment Transport and the Region's web site at http://www.detr.gov.uk/consult.htm. The consultation period ends on 4 February.
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