Posted on: 21/06/2016
The debate over what effect the UK’s exit from the European Union (EU) would have on the energy sector has intensified ahead of Thursday’s referendum.
A survey carried out for the Energy Institute’s annual Energy Barometer Report found that four times as many respondents predicted negative effects if Britons voted to leave the EU.
They foresaw negative effects on securing energy supplies, renewable energy development, climate change and sustainability, and air quality.
Oil and gas production was the only sector in which respondents predicted a positive effect of a “Brexit”.
Abolishing VAT on energy bills
Meanwhile, the Vote Leave campaign has promised to abolish Value-Added Tax on energy bills in its post-Brexit roadmap.
If Britain votes to leave the EU then Vote Leave proposes the introduction of a Special Finance Bill: “This would abolish the 5% rate of VAT on household energy bills by the date of the next General Election by amending the Value Added Tax Act 1994, and will be a major benefit for low-income households”
Campaigners said the cost of abolishing VAT on fuel bills would be paid for by not sending EU membership money to Brussels.
Vote Leave campaigner Chris Grayling added: “After we Vote Leave the public need to see that there is immediate action to take back control from the EU.”
> Read Vote Leave's roadmap