Massive savings ,removing distrortion in the free market ,reducing imports ,increasing energy security and encouraging clean ,indigenous british energy.
With fossil fuels wasting £8 billion per year from UK taxpayers ,it is the first to be scrapped (more than 8 times that of any help for British renewables)
Presently the airlines pay no tax on kerosene ,losing £ billions for the treasury and losing even more as tourists spend their holidays and money abroad.
The Export Credit Guarantte department gave away £750 million of our taxes last year for foriegn oil,gas and coal power stations ,more than any help for British renewables.The Tories claimed last year to end this sham ,we await with baited breath!.
Internationally £255 Billion is given to coal ,oil and gas industry to keep the prices artificially low and distort the market.