MIMA responds to the HM Treasury consultation on reforming the business energy efficiency tax landscape
The Mineral Wool Insulation Manufacturers Association (MIMA) has responded to the HMT Treasury consultation on reforming the business energy efficiency tax landscape and has called for the Government to:
- move towards simplifying regulation, making regulation easier to understand, easier to comply with and easier to enforce.
- encourage greater awareness and visibility of energy usage to highlight the opportunities/need for industry to improve energy efficiency.
- ensure policies to encourage the public sector to act as an exemplar for energy efficiency.
Sarah Kostense-Winterton, Executive Director at MIMA commented “MIMA supports the goals of the Review, but we urge Government to focus on options that create the greatest overall net benefits. Simply looking to cut costs may be a false economy if fewer year-on-year energy cost savings are delivered in practice. The end game must be to see substantial energy and carbon savings being made, otherwise the schemes may viewed as unwelcome costs to businesses."
“Government must also encourage long term investment in economic capital to boost the productivity of the UK economy and make a commitment to classifying investment in the energy efficiency of buildings as an infrastructure priority, in addition to driving energy efficiency through taxation and audits.”
“As recent reports by ResPublica and Frontier Economics reveal a programme to make UK homes more energy efficient, based on the Government’s own economic analysis, would provide net economic benefits of £8.7 billion to our economy. By applying the same logic and objectives to non-domestic buildings, we can align the tax-based incentives covered in this consultation with a broader long-term ambition of investing in our capital, i.e. our buildings, to boost productivity."
