Speaking in front of a Commons environment committee, Lord Whitty said the 20p cut agreed by the Treasury in 2002 was insufficient, the FT reported.
The incentive applies to biodiesel and bioethanol fuels, which are widely seen as an effective way of reducing carbon emmission as demanded under the Kyoto protocol on global warming.
‘Some increase in fiscal cut would be desirable to mobilise the market,’ Lord Whitty said.
Around 10% of arable land must be converted to growing crops to produce the fuels to meet an EU directive which has set a target of 5.75% by 2010.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
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