According to a report on the Daily Mail, the LibCon government are considering proposals to increase Stamp Duty on the sale of poorly insulated homes.
Since 2008, all homes for sale in the UK have been graded on an energy efficiency performance rating of A-G, and the government want to “encourage” the 3.8 million homes that fall into the lower categories of F and G to become greener, and reach at least grade E.
For many homes, this will involve insulation and renovation expenses of between £5.000 and £10.000 although there are many cost-cutting tips to be found in the “Save Money through Home Improvement” section of the Mr Skill web site and a series of local authority grants available. The commission for the Green Deal proposals are also considering offering families to insulate their homes for no up-front charges, with the work paid for by subsequent savings in the household fuel bill.
However, those that fail to take advantage of this scheme would be penalised with a 0.50% surcharge on the sale of their property, dissuading purchasers from buying their property when put on the market.
James Cameron, a member of the commission said the Green Deal could ‘transform’ the energy efficiency of Britain’s homes but ‘carrots and sticks’ would be needed to boost participation in the scheme. He said: ‘Introducing variable stamp duty rates could be one effective way of doing this.’
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