Industry News
Government initiative 'in need of tax incentive' March 3, 2010
The government's new Warm Homes, Green Homes Strategy and British homeowners would benefit from tax cuts for home improvements, the Federation of Master Builders (FMB) has suggested.
It was announced by the Department of Energy and Climate Change yesterday (March 2nd) that it plans to cut carbon emissions from domestic UK properties by insulating millions of homes by 2015, rolling out smart meters and offering eco-friendly upgrades to seven million households by 2020.
However, according to the FMB's director of external affairs Brian Berry, although the scheme should be applauded for offering homeowners the chance to make their houses more energy efficient, the government could do more.
"A simpler way of encouraging householders to make their homes greener and more energy efficient would be to cut the rate of VAT to five per cent for home improvements," he suggested.
He added that this may remove Briton's worry of attaching debt to their property under the pay as you save initiative - which gives people the chance to pay for their home improvements with money they have saved in the resultant lower energy bills.
© Adfero Ltd
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