Housing measures announced in the Spring Statement

I welcome the Chancellor’s housing measures announced in the Spring Statement.

The Government will be scrapping VAT on energy saving materials, providing a £250 million tax cut for homeowners. Using the Uk’s Brexit freedoms, the Government is removing the five per cent VAT on energy saving materials such as solar panels, heating pumps and roof insultation. The Government will also be reversing the EU’s decision to take wind and water turbines out of scope and remove all complex EU-imposed red tape.

This will support families in becoming more energy efficient, as a typical family installing roof top solar panels will save £1,000 on installation, and then £300 annually on their energy bills, as well as supporting the UK’s long-term Net Zero ambitions. These changes will come into effect from April 2022.

Alongside this, the Chancellor announced an extra £500 million for the Household Support Fund, doubling its total amount to £1 billion, supporting the most vulnernable families. This fund is distributed through local authorities in England, who have discretion over exactly how the funding is used.

These support measures will build on the Government’s existing packages of support including; providing a non-repayable £150 cash rebate on energy bills for homes in Council Tax bands A-D, equivalent to 80 percent of all households, helping both lower and middle-income families, and investing over £3 billion over this Parliament to help improve energy efficiency in almost 500,000 low income, fuel poor households.

I welcome these measures.  I am confident they’ll further contribute towards ensuring we have the homes Norwich needs, and protecting the environment, both key local priorities I have set out for constituents.