Government proposals to give councils 100% of all business rates raised by fracking don't change a thing locally.
Camden is a densely populated area and is not open to shale gas exploration. Even if it were any minor gains in business rates would almost certainly be offset by dealing with environmental impacts and so there would be no financial incentive for us a borough.
Our energy efficiency programmes for homes and businesses favours the development of decentralised energy networks to reduce carbon emissions and the environmental impact of energy generation. For example, we have delivered a Combined Heat and Power network from the Royal Free hospital to heat council estates in Gospel Oak, and we plan to build a greener energy centre in Euston to provide heat for council homes in Somers Town. We have also pressed at national level for a shift to renewable energy and a 2030 decarbonisation target for electricity generation, to allow investors the certainty they need to progress the shift to renewables.
Fracking is clearly not in the interests of Camden, neither financially nor environmentally and is not a policy we will be pursuing.