Osborne confirms fracking tax breaks

FRACKING may have caused minor earthquakes in Lancashire but Chancellor George Osborne is preparing to support the industry with tax breaks.

In the Autumn Statement he said the Treasury was consulting on tax incentives for shale gas which is extracted by pumping large quantities of water into the ground at high pressure to displace gas.

More detail is expected after a moratorium on hydraulic fracturing, or fracking - imposed following the Lancashire earthquakes - is lifted.

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