Spring Statement 2022: Sunak scraps VAT on clean tech in bid to tackle gas price crisis

Zero-rated for five years

Michael Holder
clock • 8 min read
Credit: HM Treasury
Image:

Credit: HM Treasury

Chancellor reveals plan to remove VAT on energy saving materials and technologies, as decision to cut fuel duty angers environmental campaigners

Rishi Sunak today announced plans to scrap VAT on domestic energy saving measures, as he set out a series of measures to help homes and businesses cope with surging energy costs, in a Spring Statement that delivered a decidedly mixed bag for the green economy. The Chancellor hailed the removal of VAT from insulation, solar panels, and heat pumps as one of the key planks of his plan to help households manage rising energy costs, alongside a controversial move to cut fuel duty by 5p per litre. Following years of lobbying from green business groups, Sunak confirmed that from April VAT is...

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