§ Mr. GibbTo ask the Chancellor of the Exchequer to what extent proceeds from the Climate Change Levy will be used to promote the development of offshore wind energy. [127477]
§ Mr. TimmsOffshore wind generation stands to benefit in two respects from the climate change levy package. Firstly, the Government intend to exempt from428W the levy electricity generated from 'new' renewable sources of energy, such as offshore wind. Secondly, £50 million of the revenue raised by the levy will be recycled to business as a whole via an 'energy efficiency' fund. This fund aims to promote the development of 'new' sources of renewable energy and low carbon technologies and provide energy efficiency advice and audits to businesses. Allocations of the fund between these aims will be announced in the forthcoming spending review.