Stamp duty could be ‘carrot and stick’ for energy efficiency says Climate MinisterMake Text Bigger
Claire Perry, the Energy Minister, has said Stamp Duty could be used as the ‘carrot and stick’ in order to meet targets on climate change laws and cut fuel bills and increase energy efficiency for households reducing carbon emissions.
Stamp Duty rates could be used as incentives or punishment depending on the efficiency of the home. Quite how this would be weighted for older properties no details were given.
It is an objective of the government for all UK homes to have at least a Band C energy efficiency rating by 2035.
Ms Perry told BBC Radio 4’s Today Programme: “We’ve been very clear that in the worst energy efficient rented homes we are expecting landlords to upgrade those to a better efficiency standard.”
“It is a mix. There are carrots and sticks. We have been very clear that in, for example, the worst energy efficient rented homes we are expecting landlords to upgrade those to a better efficiency standard.
“What we also need to know is at the moment there is no value if you go to take out a mortgage or indeed to remortgage your property for the sorts of energy efficiency improvements that actually mean your ability to pay that mortgage is better.
“So we are working with the Green Finance Taskforce that I have launched to see what other products could be made available.”
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