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Government to encourage shale gas investment

The UK will introduce a tax regime to encourage early investment in shale gas, chancellor George Osborne announced in his 2013 budget.

The regime will include a shale gas field allowance, which would reduce the tax rate on shale gas profits.

“[Shale gas] is part of the future, and we will make it happen,” Osborne said.

The government is expected to publish guidelines for local communities later this year.

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