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In UK, some welcome news, in Government support for energy saving

Welcome green tax cuts struggled to counter the sense of a Chancellor that
does not fully understand the scale of the interlocking environmental, cost
of living, and security crises the UK is facing. First, the good news,
because we could certainly do with some. Chancellor Rishi Sunak’s decision
to make the scrapping of VAT on energy-saving materials one of the central
planks of his Spring Statement is hugely welcome news. The fact
energy-saving materials has been defined to include clean technologies such
as solar panels and heat pumps, as well as insulation is similarly welcome.
And the decision to extend this tax cut for at least five years, giving
installers and manufacturers a clear signal that demand is likely to soar
and they should rapidly scale up capacity accordingly, is arguably most
welcome news of all. In addition, the doubling of the support fund for
Local Authorities to £1bn to help households in fuel poverty is also
undoubtedly welcome, even if it smacks a little of providing two buckets,
rather than one, to help tackle a forest fire. There was no grand vision
for driving sustainable growth, insulating the UK from surging global
fossil fuel prices, or helping people manage the transition to a net zero
emission economy. There was little sense of the UK’s place in an
increasingly dangerous world and how it could become a trailblazer for the
shift away from hydrocarbons that can help defang petrostate autocracies.
Most surprisingly of all, there was far too little to help the millions of
households that through no fault of their own are facing the looming shadow
of genuine poverty. It was, just like Sunak’s eve of COP26 Budget, a
significant opportunity missed.

 Business Green 23rd March 2022

https://www.businessgreen.com/blog-post/4047134/spring-statement-bad-deeply-worrying

ReplyForward

Welcome green tax cuts struggled to counter the sense of a Chancellor that
does not fully understand the scale of the interlocking environmental, cost
of living, and security crises the UK is facing.

First, the good news,
because we could certainly do with some. Chancellor Rishi Sunak’s decision
to make the scrapping of VAT on energy-saving materials one of the central
planks of his Spring Statement is hugely welcome news.

The fact energy-saving materials has been defined to include clean technologies such
as solar panels and heat pumps, as well as insulation is similarly welcome.
And the decision to extend this tax cut for at least five years, giving
installers and manufacturers a clear signal that demand is likely to soar
and they should rapidly scale up capacity accordingly, is arguably most
welcome news of all.

In addition, the doubling of the support fund for
Local Authorities to £1bn to help households in fuel poverty is also
undoubtedly welcome, even if it smacks a little of providing two buckets,
rather than one, to help tackle a forest fire.

There was no grand vision
for driving sustainable growth, insulating the UK from surging global
fossil fuel prices, or helping people manage the transition to a net zero
emission economy. There was little sense of the UK’s place in an
increasingly dangerous world and how it could become a trailblazer for the
shift away from hydrocarbons that can help defang petrostate autocracies.
Most surprisingly of all, there was far too little to help the millions of
households that through no fault of their own are facing the looming shadow
of genuine poverty. It was, just like Sunak’s eve of COP26 Budget, a
significant opportunity missed.

 Business Green 23rd March 2022

https://www.businessgreen.com/blog-post/4047134/spring-statement-bad-deeply-worrying

March 26, 2022 - Posted by | ENERGY, UK

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