-
· Chancellor
makes Spring Statement in the House of Commons
-
· Renewable
energy and clean tech sector reacts to Statement
The Chancellor’s Spring Statement has opened the discussion
regarding how the tax system can be used to spur growth in the
UK’s recycling, renewable energy, and clean tech sectors,
according to the REA.
In the Spring Statement the Chancellor announced:
- · A Call
for Evidence on plastics, which will investigate how the tax
system can support a reduction in the utilisation of single use
plastics and encourage the use of reusable materials
- · An
ambition to invest £20m in research and development in plastics
to develop new greener products and processes
-
· Details
relating to how the Housing Infrastructure Fund will support the
deployment of new homes
- · A
consultation on how Vehicle Excise Duty can support the cleanest
vans
James Court, Head of Policy and External Affairs at the Renewable
Energy Association said:
“We welcome commitments by the chancellor to use the tax
system to spur green innovation in the field of recycling, and
call on him to go further and kick start the renewables economy
by introducing enhanced capital allowances for technologies of
the future such as solar and energy storage.
“The Chancellor’s commitment to recycling is welcomed, but
needs to go beyond single use plastics. The tax system should be
used to encourage more sustainable behaviours and establish a
true circular economy, one that includes waste reduction,
recycling, and energy recovery. An ambition to bring England’s
food waste collections to at least the levels seen in Scotland
and Wales should be a priority alongside tackling single-use
plastics.
“Delivering new homes is a political priority shared by all,
but we need to ensure these new homes are good quality and fit
for the future. We call on the Chancellor to ensure that the
homes being supported by the Housing Infrastructure Fund have
high efficiency ratings, are using renewable energy to power and
heat their homes, and have sufficient electrical supplies to
support the coming mass roll-out of electric vehicles.
“The consultation on Vehicle Excise Duty for the cleanest
vans should be extended to see how the tax system can better
incentivise electric car adoption, which in turn improves the
case for domestic EV manufacturing. Specifically, Benefit in Kind
rates for electric cars should be revised.”
