REDUCE VAT on refurbishment & home improvement
Cut the VAT costs to 5% on all refurbishment and home improvement projects/materials to reach carbon targets on existing building stock.
Why does this idea matter?
If the Government wants to achieve its aim to cut carbon emissions by 60 percent by 2050 then it needs to tackle the existing building stock that contributes 40 percent of the UK's total carbon emissions. Cutting the current rate of VAT from 17.5 percent (20 percent from January 2011) to 5 percent for all maintenance and home improvement work made to Britain's homes would, in a simple single act, do more to motivate homeowners to make their homes greener than any other policy measure. It would create JOBS in the construction sector, bringing in more INCOME tax overall to government, stimulate the construction economy, bringing down costs and encouraging growth. It would reduce pressure on greenfield sites for housing, reducing beauracracy in planning departments, help regenerate brownfield land, preserve our streetscape, aid conservation,reduce waste from demolition, and therefore more sustainable.