CBI calls for tax breaks to reward green initiatives in commercial property | 30 August 2013
Providing tax breaks for companies that use energy efficiency measures in their commercial property will encourage the promotion of green initiatives, the Confederation of British Industry (CBI) has noted.
In a report issued this week, Britain’s top lobbying organisation called on the government to stimulate energy efficiency in business buildings and operations in order to unlock what it describes as a huge opportunity.
According to building.co.uk, the market for energy efficiency including construction is worth around £17.6 billion a year.
The report proposed the introduction of variable business rates to reflect the energy use of commercial buildings. The CBI suggested that in the short term, business rates for empty properties could be waived for those undertaking a refurbishment with the aim of improving the energy efficiency of a building.
Rhian Kelly, director for business environment policy at CBI, said the policy environment is currently providing companies with “perverse incentives” not to invest in the improvement of their commercial assets.
Cited by oilfiredup.com, she explained that only the tenants are benefiting from spend on energy efficiency, with the property owner left to pick up the bill for its adjustments.
“This picture must change to reward those who plough money back into improving the energy performance of buildings,” added Ms Kelly.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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