We’re Supporting Calls For Reform Of Stamp Duty To Drive Demand For Energy Efficient Retrofit
Ecology has been a longstanding supporter of reforming the Stamp Duty Land Tax (SDLT) regime to incentivise energy efficient renovations and retrofit.
Our homes are responsible for around 23% of the UK’s total emissions and urgent action is required to retrofit the UK’s existing housing stock if we are to meet our net-zero targets.
In the run-up to COP26 we’re joining forces with the Green Finance Institute and other mortgage lenders to call for an energy-adjusted SDLT, proposed by the UK Green Building Council (UKGBC).
We’ve co-signed a letter to the Chancellor outlining the case for this important fiscal measure which will drive demand for retrofit and support the growth of green home finance.
The reformed SDLT provides a linkage between energy efficiency, based on the SAP rating, which is calculated to produce the home’s Energy Performance Certificate, and house prices. This creates a long-term incentive for homeowners to retrofit their property and delivers additional value for more energy efficient homes.
Tax changes such as the energy-adjusted SDLT can’t work in isolation and we’d like to see the UK Government deliver this as part of a National Retrofit Strategy incorporating a comprehensive policy and funding landscape including support for the retrofit supply chain, skills development and green finance more widely.
Read the letter to the Chancellor, co-ordinated by the Green Finance Institute, here.
For more information about energy-adjusted SDLT, read the recent UKGBC report here.
Published: 16 September 2021
Author: Jennifer Whiteside