A leading coalition of consumer, retail, builder and business groups has written to the Chancellor to ask that an Energy Saving Stamp Duty is introduced to stimulate and support homeowners to act at scale to decarbonise the UK’s housing stock.
The Energy Efficiency Infrastructure Group (EEIG), of which Energy Saving Trust is a member, says that an Energy Saving Stamp Duty Incentive would provide a long-term, revenue neutral, structural driver for retrofitting the UK’s owner-occupied homes and for more sustainable new homes.
The coalition highlights the incentive would target the UK’s 19 million owner occupier households, encouraging them to either purchase a more energy efficient home or make it more energy efficient after buying a home, for example by installing insulation or a heat pump. It would also encourage new housebuilders to move to higher building standards in advance of being required to by regulations.
It will ensure that the installation of vital energy efficiency measures become part of the house purchase process, acting as a driver for discussions with banks or other lenders about funding. The incentive will encourage people to actively think about the energy performance of the home they are considering purchasing, about potential improvements, consider any retrofit costs, and plan ahead to realise the rebate, reducing the cost of retrofitting under-performing homes.
Read the coalition’s letter to government here.
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