Stamp duty reforms key to home energy savings says WWF
21 July 2010
Reforming the current stamp duty rates to reward homeowners whose homes are more energy efficient has been a key ask of WWF and its Great British Refurb Campaign. Although the benefits of a greener home have been well outlined in terms of financial savings and emission reductions – there has been limited take up for green refurbishment, and many homes continue to leak out CO2, raising doubts over the UK’s ability to meet its carbon targets.
Stamp duty incentives that impose a higher rate of duty for the most energy inefficient properties will assist in driving improvements in the UK’s 26 million existing homes, many of which require more than cavity wall insulation to keep the draughts out this winter. Currently 20 per cent of homes in the UK are F and G rated for energy efficiency, but could see their Energy Performance Certificate rating increase with simple refurbishment measures.
Colin Butfield, Head of Campaigns at WWF-UK says: “WWF has long campaigned for a package of financial incentives to help drive uptake for green home refurbishment, and we see the reform of stamp duty as an essential part of the Government’s Green Deal package. Financial incentives are essential for triggering the mass-scale take up of green refurbishment that is needed if the UK is to meet its legally-binding carbon target by 2020.”
“We have long extolled the long-term cost savings of an energy-efficient home, now an upfront saving on stamp duty should inspire more homeowners to want to live in a ‘Superhome’ that meets the highest standards of energy efficiency. With the right Green Deal in place, homeowners could essentially profit from making their house cheaper to run and more environmentally friendly.”
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For further information, please contact:
Debbie Chapman, Senior Press Officer, tel: 01483 412397 email: dchapman@wwf.org.uk
Interviews are available with WWF-UK Head of Campaigns, Colin Butfield, and Great British Refurb Campaign Director Simon McWhirter
Earlier this year, thousands signed up to a Great British Refurb Campaign call for the Government to introduce more financial incentives for eco-refurbishment. For more information visit www.greatbritishrefurb.co.uk
