Stamp duty could be ‘carrot and stick’ for energy efficiency says Climate Minister

by Property 118

2 months ago

Stamp duty could be ‘carrot and stick’ for energy efficiency says Climate Minister

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Stamp duty could be ‘carrot and stick’ for energy efficiency says Climate Minister

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.”

Comments

Martin Roberts

2 months ago

A reduction in council tax while a property is empty would allow time for improvement work.

terry sullivan

2 months ago

where do they get these nonentities from--shes not a Conservative--see her wikipedia entry

Barry Fitzpatrick

2 months ago

After joining the Conservative party in 2006, Perry worked for the Shadow Chancellor George Osborne.
Says it all

Michael Bond

2 months ago

1. Will the same standards be applied and enforced on local authority and housing association properties? If not, why not?
2. As already pointed out it would be much easier to do improvements betweeen tenancies if we were not hit with a big Council Tax bill as soon as a property becomes vacant.
3. Many landlords own older properties in their portfolios. Some of these are "Listed as being of historic or architectural interest ...", which makes it difficult if not impossuible to improve the energy efficiency of a property.
4. We learrn that the Minister used to work for George Osborne. Even in the Conservative Party (of which I am a long time member) this cannot be a qualification to boast about? Has she ever done real job?

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Five Warnings for 2018 - #1 The Minimum Energy Efficiency Standards