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BUDGET '07: Brown backs biofuel

Date: 21 March 2007

Company car drivers will benefit from a 2% discount in their company car tax bill if the car they use is capable of running E85, an ethanol-petrol mixed fuel.

Announced today as part of the 2007 Budget, it's another loud and clear sign of the importance plant-derived fuels will play in meeting ambitious targets to reduce CO2 emissions.

The company car tax discount will be introduced in April 2008 and is expected to help coax fuel suppliers to increase infrastructure and the number of petrol stations retailing the fuel, while motivating the number of manufacturers offering cars capable of running E85.

Biofuel was also given a boost in other areas of the Budget speach with incentives for bio-fuel production and distribution.