Homebuyers should get fifty per cent stamp duty rebate for making their property more energy efficient, think tank says | The Sun
HOMEBUYERS should get a fifty per cent stamp duty rebate for making their property more energy efficient to help the UK reach net zero, a think tank says.
New purchasers must carry out the retrofit within 12 months by installing heat pumps and other efficiency measures in a bid to cut carbon emissions, the report proposes.
Nearly 250,000 homes would be made more environmentally friendly if one in five new buyers took up the proposal to reduce leaky homes, the Going Green report by Onward says.
A similar scheme in Finland has helped the country have one of the highest rate of heat pump installations in Europe.
Tory leadership contenders Liz Truss and Rishi Sunak are being urged to encourage a sceptical public to adopt the new technologies when either candidate enters Number 10.
The success of the Cycle to Work scheme should also be replicated for solar panels and also heat pumps through a salary sacrifice scheme.
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The report says although large organisations have taken action so far individuals have been “hesitant” about adopting new technologies.
The government has committed to reducing net emissions of greenhouse gases by 100 per cent relative to 1990 levels, by 2050.
If achieved this would make the UK a net zero emitter.
Tory MP Philip Dunne said: “Installing insulation and retrofitting properties with energy efficiency measures can bring the UK back on track to achieve net zero goals, while also reducing household bills in the midst of the current cost of living challenges.”
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Onward’s Alex Luke, report author, said: “The UK has made great progress towards decarbonisation, but will not reach net zero by 2050 unless people rapidly adopt new technologies and change their behaviours.
“Fortunately, there are lots of ways Ministers can make these changes easier for people, using both behavioural nudges and incentives for collective action.”
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