Deborah Backs Campaign for tax breaks for Green Savings in Bolton

Local people across Bolton could take advantage of tax breaks if they put their money in environmentally responsible companies and green technology, under plans being drawn up by Conservatives.

Deborah Dunleavy, Parliamentary Candiddate for Bolton North East today welcomed the proposals for new ‘Green Individual Savings Accounts’. These will allow the public to save money without paying tax on the interest, up to a certain limit.

Under the new Conservative plans, there would be a generous tax-free savings allowance for the new Green ISA, over and above the current £7,000 for stocks and shares ISAs. There would be clear criteria for firms to obtain a green ‘kitemark’, enabling them to qualify for investment under the Green ISA. This would create a major incentive for local and national businesses to curb their emissions and adopt greener technologies and practices.

This proposal follows Conservative plans to reward people for installing green energy, such as solar panels or mini-wind turbines. Energy companies would pay local firms and householders for the green electricity that they produce. Low-carbon energy is not only eco-friendly, but helps save people money – at a time of hikes in gas and electricity bills.

Deborah said:

“Instead of Labour’s approach of punishing families with ever higher taxes, we should be using incentives to encourage people to go green and invest in eco-friendly technology. Encouraging people to invest in green companies has a double benefit – helping the environment, and rewarding people for saving money responsibly.”

“As a Financial Advisor I have seen first hand the damaging effect that Labour’s taxation policies have had on the savings culture in our country.  I especially welcome the Conservative outlook of encouraging people to save in comparison to this Labour Government who seem intent with their means testing policies which is ruining the savings culture in the UK.”