This site is in beta mode while we add the remaining policies. To feedback or help, please get in touch!
In Progress
Increase communities’ share of the Shale Wealth Fund

Finally, we will change the proposed Shale Wealth Fund so a greater percentage of the tax revenues from shale gas directly benefit the communities that host the extraction sites. Where communities decide that it is right for them, we will allow payments to be made directly to local people themselves. A significant share of the remaining tax revenues will be invested for the benefit of the country at large.

Our Verdict

Creating a Shale Wealth Fund was proposed by the last government to allow local people from shale extraction communities to benefit directly from the tax revenue raised by local industry and have more say on how it is used.

The previous government conducted consultations on how such a fund should operate between 8th August and 26th October 2016, which saw a total of 170 responses from local businesses, community groups and individuals. On the 11th November 2017, the current government published its response to these consultations.

The response spoke of the principles that future policy would be built on, giving specific details on aspects of how the policy would be administered, whilst acknowledging that other areas need more research. The government argue that the response “sets out a clear framework for how local communities will directly benefit from a share of the tax revenues from shale development”.

However, since publishing the consultation response, the government has not elaborated on the details of this proposal or how a Shale Wealth Fund would be administered in full. Current government guidance on developing shale gas in the UK merely restates some information about the Shale Wealth Fund which was previously laid out in the consultation response.

As efforts have been taken to think about how such a policy would work, we can consider this ‘in progress’.  We need to see movement beyond the statement of principles, to implementation and outcomes, before we can move this policy to ‘done’. Follow this policy for updates!

More reading

There's always room for debate

We’re serious about providing clear, up-to-date, non-partisan information. We focus on being consistent and fair in how we track policies, and always explain our reasoning. But there is always room for debate. So if you see it differently, we’d love you to tell us why or submit an edit.

Get involved!

Whether you are for or against this policy or just want to know more, it's never been easier to get involved and have your say. Try these for starters…

Join the discussion On this page, or Twitter, or Facebook. Democracy is better shared!
Follow this policy We'll send you email alerts every time something interesting happens.
Ask your MP Ask your MP to help you support or block this policy - write to them here.
Get the facts Sense about Science and Full Fact are great for evidence and fact checking.
Get ahead! The Simple Politics newsletter breaks it all down for you - before it happens!
Comments