Colchester Council boss David King calls for stamp duty exemption

A COUNCIL boss has called on the Goverment to ensure net zero carbon homes are exempt from stamp duty costs.

David King, leader of Colchester Council, has written a letter to Jeremy Hunt, who is the Chancellor of Exchequer.

In the document, Mr King argues removing stamp duty costs on net zero carbon homes would help boost demand for such properties.

In turn, he also believes the move would help to accelerate the transition to a low-carbon economy, given the homes help to reduce energy consumption and greenhouse gas emissions.

MP Victoria Atkins, Financial Secretary to the Treasury, has since responded to Mr King, saying the Government would “carefully consider the costs and impacts of any new reliefs, including on the housing market.”

She also stated £6billion of funding has already been pledged to support energy efficiency, while the Boiler Upgrade Scheme will also continue until 2028.

Downing Street is also offering other schemes such as the Energy Company Obligation scheme, Home Upgrade Grant Phase 2 scheme, and the Great British Insulation Scheme.

Additionally, the Boiler Upgrade Scheme provides property owners with grants of up to £6,000 to cover part of the cost of replacing fossil fuel heating systems with a heat pump or biomass boiler.

Mr King said he was “unsurprised” by the minister’s response, adding: “We are committed to supporting the delivery of net zero carbon homes in Colchester and will continue to press for a stamp duty exemption as a significant incentive for developers to build these homes.

“This is a vital measure that would help to accelerate the delivery of net zero carbon homes and make them more affordable for buyers.

"In the meantime, we urge residents to take advantage of available grants, such as the £6,000 available for boiler upgrades.”

Mr King's letter to Mr Hunt comes after Peter Schwier, the Climate Czar at Essex County Council, also requested a stamp duty exemption for net zero carbon homes.

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