Shale Wealth Fund: consultation

This consultation document states that the Shale Wealth Fund, which could deliver up to £1 billion of funding, a proportion of which could be paid out to each community over 25 years, will ensure that the benefits of shale developments are shared by communities and regions in which the resource is developed.

The document states that exploring and developing the UK’s shale gas resources could bring substantial benefits and the government’s view is that there is a national need to develop these resources in a safe, sustainable and timely way. The document adds that the government is clear that local people should have greater control and say in decisions that affect them. More than this though, they are committed to delivering an economy that works for all, through ensuring the benefits of economic growth and investment are spread as widely as possible. The consultation states that that is why the government are setting out proposals for the Shale Wealth Fund. These proposals make clear that the benefits of shale will go to local people first, and individuals and communities who host developments will be directly involved in the decision making about how the tax revenues from shale are spent.

Author: HM Treasury

Date: August 2016 Date of publication

This item updates DCP section 26.435


Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Join the conversation with PlanningResource on social media

Follow Us:
Planning Jobs