Clause 14 - Treatment of certain energy products
Finance Bill
3:00 pm
Mr John Healey (Economic Secretary, HM Treasury; Wentworth, Labour)
The clause amends section 10 of the Finance Act 1993 to provide a power to treat energy products in the same way as hydrocarbon oil or road fuel gas is treated under the Hydrocarbon Oil Duties Act 1979. The clause will update the legislation to take account of current and potential development of new energy products, which are made from animal and vegetable fats and non-synthetic methanol. The change is a consequence of the introduction of the European energy products directive, which gives a unified framework to the treatment of motor and heating fuels. The change will ensure that when new energy products are used as motor or heating fuels they will be dealt with under the 1979 Act.