Budget 2013: Tax break for shale gas exploration

CHANCELLOR George Osborne threw his weight behind the controversial shale gas industry today promising a "generous" new tax regime.

Coverage of the Budget is brought to readers of TheBusinessDesk.com in partnership with Ernst & Young.

The move, first touted in the Autumn Statement, will mean a "shale gas field allowance" which the Chancellor said would help promote early investment in the sector.

Shale gas is extracted by pumping large quantities of water into the ground at high pressure to displace gas... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...