Error parsing XSLT file: \xslt\FacebookOpenGraph.xslt BUDGET '09: Biofuel billion for Government coffers
Cookies on Businesscar

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies on the Business Car website. However, if you would like to, you can change your cookies at any time

BusinessCar magazine website email Awards mobile

The start point for the best source of fleet information

BUDGET '09: Biofuel billion for Government coffers

Date: 01 May 2009

Details from this year's Budget document have revealed the Government will gain more than £1 billion from last year's decision to scrap the biofuel subsidy.

In the 2008 Budget, Chancellor Alistair Darling revealed he was scrapping the 20 pence per litre subsidy for biofuels because there was a legal requirement for all fuel to contain a 5.75% mix of biofuel by 2010, known as the Renewable Transport Fuels Obligation.

However, the data tables contained in the 2009 Budget show that this move will bring the Government £525m in the 2010/11 tax year and a further £500m in the tax year 2011/12.