Cut Stamp Duty to help Energy Efficiency says MP

Neil Gerrard, Labour MP for Walthamstow, has given his backing to moves to give stamp duty rebates to house buyers who install energy saving measures. The proposals are in a Private Members Bill introduced by Kevin Barron, MP for Rother Valley, for which Mr Gerrard is one of the sponsors.

“The government is aiming for an increase of at least 20% in residential energy efficiency by 2010” said Mr Gerrard. “This would be a very good way of encouraging home buyers to consider what energy saving measures they could put into their homes. A stamp duty rebate is recommended by the Energy Saving Trust, the Association for the Conservation of Energy, and the Sustainable Energy Partnership as one of the best ways of achieving the installation of more energy efficiency products, especially cavity wall and solid wall insulation.”

“Nearly three quarters of first time buyers in the country now pay stamp duty compared with only one in five 10 years ago, so this measure could help large numbers of people to make their homes more energy efficient, saving themselves money on fuel bills, as well as contributing to overall energy efficiency targets. I hope that the Bill will be supported by the Government, as it already has the support of many MPs.”

Feb 2005 

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