George Osborne"s summer budget included no full-scale review of the Levy Control Framework (LCF), but did remove an exemption for renewables from the Climate Change Levy. Osborne said the government would "continue to promote the low carbon investment and innovation" required to combat climate change and that it would focus on "the best value for money policies". The chancellor also announced a new £1bn fund aimed at helping businesses invest in low-emission technologies.
George Osborne"s summer budget included no full-scale review of the Levy Control Framework (LCF), but did remove an exemption for renewables from the Climate Change Levy. Osborne said the government would "continue to promote the low carbon investment and innovation" required to combat climate change and that it would focus on "the best value for money policies". The LCF budget is rumoured to have run away under coalition rule and forecasts from market intelligence firm Cornwall Energy and the Telegraph suggested it could record an overspend of between £1.5 billion and £2 billion by 2020.