Spring Statement 2022: The green economy reacts

VAT reductions welcome

BusinessGreen staff
clock • 9 min read
Credit: HM Treasury
Image:

Credit: HM Treasury

BusinessGreen rounds up all the reaction from the green economy to the Chancellor's mini-budget

This afternoon, Chancellor Rishi Sunak unveiled the government's three-point plan to protect households from soaring energy bills, announcing an almost-immediate 5p cut in fuel duty,  the elimination of VAT on solar panels, heat pumps, and other green retrofit technologies, and £500m in extra funding for local authorities to help the most vulnerable families weather the gas price crisis.  The decision to finally heed industry calls to reduce VAT on energy saving materials have been broadly welcomed by experts across the green economy, who have noted the move is long overdue and will help...

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