Fracking profits could benefit individual households

August 8, 2016

The highly controversal method of producing oil and gas by fracking is again under the spotlight, the  Prime Minister Theresa May is considering paying the money set aside by a shale wealth fund directly to impacted householders, and not through third party agencies and councils.

A shale wealth fund was unveiled in 2014 to set aside up to 10% of the tax proceeds from fracking to benefit communities in the UK where wells were drilled.

It is expected the new fund could deliver as much as £10m to each community that has wells sited, no exact figure has been calculated how much this may represent being paid to each household in the area affected, however  it is  understood to be up to as much as £10,000 each.

The government’s plan is just one option due to be outlined in a consultation this Monday, any plans can be expected to be strong contested by campaigers against any forms of fracking, green campaigners point out fracking carries environmental risks.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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