Emergency Budget: Coalition Government sets June 22nd date.

The coalition government will hold its emergency Budget on 22 June.

The Tories pledged before the election to hold a Budget within 50 days of coming to power to show their intention to get to grips with the deficit.

Mr Osborne confirmed the date at a briefing with Lib Dem David Laws, who is the Treasury Chief Secretary.

As part of their coalition deal, the two parties agreed to make £6 billion in spending cuts in the current year.

Labour's last Budget was held at the end of March, weeks before the start of the general election. When they came to office in 1997, Labour also held a Budget within three months of being elected.

Mr Osborne refused to be drawn on the details of next month's statement - which is expected to start at the later time of 1530 BST - but said the "bulk" of his deficit-reduction measures would take the form of spending cuts rather than tax rises.

"A new, strong coalition government is going to do what the Labour government failed to do and let Britain live within its means," he said.

New Coalition British Govt. agrees on More Feed-in Tariffs:

Less than two months after Britain's Labour Party launched its highly regarded feed-in tariff (FiT) program, the newly elected conservative/lib-dem government has announced the program will be expanded. The announcement is included in the coalition government's agreement published as the new government took office.

The coalition government of the Conservative Party, and the Liberal Democrats have issued statements in the past supporting the principle of feed-in tariffs for developing Britain's renewable energy potential.

In his first press conference since becoming chancellor, Mr Osborne announced an audit of all government spending over the past year - to be carried out by the new Office for Budget Responsibility.

He said the government will announce next week how it plans to make £6 billion in spending cuts this year, focusing on reducing the size of quangos and cutting IT, consultancy and advertising expenditure.

New Coalition British Govt. pledges to increase targets for renewables:

A document outlining the basis of the Conservative-Liberal Democrat administration states: “We are agreed that we would seek to increase the target for energy from renewable sources, subject to the advice of the climate change committee."

Both the Tory Prime Minister David Cameron and his deputy, Lib Dem Nick Clegg, expressed support for a low carbon economy in their first press conference.

Cameron promised the new government would be "passionate about building a green economy", with Clegg outlining plans to ensure "fine words on the environment are finally translated into action".

There has been considerable unease in the wind sector about Conservative plans to abolish the Renewable Obligations (RO) scheme and replace it with a feed in tariff (FiT) for large scale renewables.

The Lib Dem position has been to maintain RO, although a party environment adviser says that "positions will be worked out jointly from now on" adding that "nothing has been decided yet".

In a pledge yet to be clarified by the new government, the document promises "the full establishment of feed-in tariff systems in electricity – as well as the maintenance of banded ROCs".

The Renewable Heat Incentive (RHI) coming April 2011:

Next April, the new Renewable Heat Incentive begins. As currently proposed, it will expand twelvefold during the decade the amount of heat generated from renewable sources.

The Renewable Heat Incentive (RHI) scheme will guarantee payments for up to 23 years for those who install technologies such as solar thermal, ground or air source heat pumps, biomass boilers or bio-methane or bio-diesel projects.

It is envisaged that you will earn a fixed income for every kilowatt hour (kWh) of heat you produce. Solar thermal is expected to receive the following tariff:

Up to a 45 kW system will attract an RHI of 18 pence per kWh for 20 years*
45 kW to 500 kW will attract an RHI of 17 pence per kWh for 20 years*

The sums involved are huge. According to the published cost benefit analysis, the cumulative gross resource costs of all these payments may reach £26.7 billion. Officials are quoting publicly an even higher figure of £36 billion.

It is hoped that the scheme will help deliver 17 million tonnes of carbon dioxide savings by 2020, though two million of these are already accounted for by the European Emissions Trading Scheme. Around 85 per cent of the 73 terawatt hours of savings anticipated will be from non-residential buildings. Conversely, of the 1.87 million installations, some 1.72 million – or one in 14 – households will participate; just 144,000 installations will be made in the commercial and public sectors.

So, one in 14 households – predominantly those with spare cash to invest – will get a 12 per cent tax free return on investment. While the remaining 13 out of 14 will just see their fuel bills rise that much more.

*TBC out for consultation

URBAN ENERGY:

Our mission: “To provide and install, sustainable, world class, clean energy products with the highest level of service and care."

Urban Energy is an innovative organisation specialising in the financing, design and installation of economic and environmentally sound solar powered energy systems for commercial property (private and public) and domestic dwellings. Our expertise in the field of Government sponsored funding programmes and solar power products will provide individuals and organisations with an excellent opportunity to overcome capital cost barriers, save money on energy bills, increase profit margins, increase the value of their property and reduce their carbon footprint.

Urban Energy employ the very best engineers in this field, all of which are fully qualified, MCS certified and Government approved to carry out this task, complying with strict guidelines and are members of the Solar Trade Association.

For further information about Urban Energy products and services:
Call: 0800 232 1624
Email: info@urbanenergy.org.uk
Website: http://www.urbanenergy.org.uk/