(11 years, 3 months ago)
Commons Chamber5. What steps he is taking to promote the exploration of UK shale gas resources.
The Government have taken a number of recent steps to promote shale gas exploration. We confirmed fiscal measures in the autumn statement to incentivise exploration activity, we published a regulatory road map in December setting out clearly for operators the regulatory requirements for shale gas projects, and the Prime Minister announced 100% business rate retention for local authorities for shale projects on Monday. We are also consulting on the strategic environment assessment for a potential 14th onshore licensing round, which would enable further areas of the country to be explored.
I thank my right hon. Friend for that answer. Does he agree that, far from being a bribe, the decision to allow councils to keep 100% of business rates is about ensuring that local communities and local people can benefit and get a fair share of the development in their area?
Yes, it is important that the benefits of shale gas exploration should not just go to the economy more widely, or to the companies doing the exploration or, indeed, wholly to the Chancellor of the Exchequer. It is important that local people and local communities share in those benefits as well.