No Tax Break for Green Deal Measures in the 2012 Budget

There was speculation that yesterday’s budget announcements might include some incentives for the new green technologies that will be employed in the up-coming Green Deal.  The Federation of Master Builders was pushing for a 5% rate of VAT on all Green Deal Measures.

Smaller builders were hoping that the suggested tax break would stimulate interest in the measures being installed, coupled with the launch of the Green Deal they were hoping for a rapid increase in installations. The solar industry is still reeling with the decrease in the Feed In Tariff payments announced recently.

Construction industry lobbyists were also looking for an extension to waiving of stamp duty on properties under £125,000. With the added finance needed to get on the housing ladder it is feared that the whole housing construction industry will struggle to get going, growth is expected to be 0.8% in 2012..

One slight glimmer of hope for the housing industry and small builders is the relaxing of planning laws the details of which are yet to be released but experts expect it will be easier to get local planning approved.

Is this the ‘greenest Government ever’ as David Cameron announced when he became Prime Minster in 2010? Let us know your thoughts below.

 

Image Credit: http://www.nationalarchives.gov.uk/doc/open-government-licence/

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