Tax incentives for energy efficiencies urged for landlords in Wales

Tax incentives for energy efficiencies urged for landlords in Wales

10:23 AM, 2nd March 2023, About 2 years ago

Text Size

Tax incentives that would help landlords deliver energy efficiencies in private rented housing should be introduced in Wales, a report by MSs urges.

That’s according to a new report from Members of the Senedd on decarbonising private housing.

The Senedd’s Climate Change Committee argues that the Welsh Government should look at how to use Council Tax and the Land Transaction Tax ‘to incentivise energy efficiency retrofit as a priority’.

The report concludes that accelerating energy efficiency improvements in the privately owned housing stock will require a combination of both ‘incentives and regulatory standards’.

‘Want to see properties as energy efficient as possible’

Ben Beadle, the chief executive of the National Residential Landlords Association, said: “Whilst we all want to see properties as energy efficient as possible, this needs to be backed up by a sensible financial package to support such work.

“The Committee is right to call on the Welsh Government to look at how to use the devolved tax powers it has to support energy efficiency improvements.”

He added: “We also share the Committee’s concerns that new regulations should avoid hitting the supply of much needed homes to rent in Wales.

“We urge the Welsh Government to consider the report’s recommendations with the seriousness that they deserve.”

UK Government has failed to provide clarity about the energy efficiency standards

The Committee supports the NRLA’s concerns that the UK Government has failed to provide clarity about the energy efficiency standards that will be expected of the sector.

This is despite a consultation closing on the issue more than two years ago.

The report warns that: ‘While the UK Government continues to drag its feet over whether to increase standards in the private rented sector, the sector remains in limbo.’

Recognising the ‘important role’ that the private rented sector plays in meeting Wales’ housing needs, the Committee warns that any changes to energy efficiency standards need to avoid having an ‘impact on the availability of affordable, private rental properties’.


Share This Article


Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Automated Assistant Read More