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A trio of think tanks with links to the Conservative Party have backed proposals which would see new homeowners receive a stamp duty rebate for upgrading the efficiency of their properties.
Under the proposal new homeowners who improve the energy efficiency of their properties in the first two years of ownership would receive a stamp duty rebate.
To qualify for a rebate homeowners would have to prove that they had improved the Energy Performance Rating (EPC) of a property in the two years after it was purchased.
The proposal has been backed by think tanks including Onward, Bright Blue and the Conservative Environment Network.
Adam Hawksbee, the deputy director at Onward, said: “We need to find ways to incentivise, not penalise, people to retrofit their homes.
“That is why the Government should consider the idea of a ‘rebate to renovate’, a practical solution which will help bring down energy bills and decarbonise our inefficient housing stock.”
Ryan Shorthouse, the executive chairman of Bright Blue, added: “We need stronger policies to ensure households retrofit their homes with the necessary energy-efficiency measures and low-carbon technologies.
“It makes sense to have a strong incentive at the point of moving into a house, as this is the time that homeowners are most likely to be open to making major improvements”
Meanwhile, Sam Hall, director of the Conservative Environment Network, said a “Rebate to renovate” scheme “would be an effective way to incentivise much-needed energy efficiency improvements in homes”.
The policy proposal was one of the recommendations being considered by the Energy Efficiency Taskforce before it was disbanded in September after just six months.
News the taskforce was to be scrapped after just six months was met with dismay by various industry figures, including those working for fuel poverty charities.
Speaking to Utility Week following the government’s decision National Energy Action’s (NEA) chief executive Adam Scorer expressed his disappointment at the move but said he was more concerned about Prime Minister Rishi Sunak’s announcement to scrap the requirement for minimum energy efficiency standards for the private rented sector.
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