UK should 'cut VAT on green products' says Redwood
When you subscribe we will use the information you provide to send you these newsletters.Sometimes they’ll include recommendations for other related newsletters or services we offer.Our Privacy Notice explains more about how we use your data, and your rights.You can unsubscribe at any time.
Tory MP Sir John Redwood argued that the UK is now free to set its own taxes without EU involvement post-Brexit. During an interview with Express.co.uk, Sir John argued against the VAT tax. While not advocating it be completely abolished, he noted it was imposed on items that it shouldn’t be.
Looking forwards, he said he hoped the Treasury would remove it for green products, in order to shape Britain’s green revolution.
Sir John said: “I think we need to reshape our VAT.
“VAT was a tax we had to introduce when we joined the European Union.
“I think it is still imposed on things in places we would prefer not to see it imposed.
DON’T MISS: They’re getting it! Huge majority of EU’s citizens reject project
“I hope at some point the Treasury will want to take VAT off all of those green products for example.
“They want us to have different boilers, better heating controls and more insulation, all very good things.
“Let’s take the VAT off them and show that we are going to use our freedom to shape our own taxes.”
Late in 2020, Boris Johnson announced the Government’s plans to supercharge the country with its own green revolution.
Brexit: British fish 'happier' due to deal says Jacob Rees-Mogg
They intend to do this by ensuring more efficient energy distribution, longer lifespan products and reducing waste.
During a briefing to ministers this week, Business and Energy Secretary Kwasi Kwarteng said: “Our plans to tighten product standards will ensure more of our electrical goods can be fixed rather than thrown on the scrap heap, putting more money back in the pockets of consumers whilst protecting the environment.
“Our upcoming energy efficiency framework will push electrical products to use even less energy and material resources, saving people money on their bills and reducing carbon emissions as we work to reach net-zero by 2050.”
In 2020, the Prime Minister outlined his optimism for Brexit Britain building back stronger and greener.
Lord Adonis savaged as he refuses to say if EU can have UK vaccines [VIDEO]
Adonis leads charge to get UK ‘back in bloc’ at europhile meeting [INSIGHT]
Deluded Rejoiners crushed as doomed EU plot ‘off agenda’ for TEN years [ANALYSIS]
He said: “Although this year has taken a very different path to the one we expected, I haven’t lost sight of our ambitious plans to level up across the country.
“My Ten Point Plan will create, support and protect hundreds of thousands of green jobs, whilst making strides towards net zero by 2050.
“Our green industrial revolution will be powered by the wind turbines of Scotland and the North East, propelled by the electric vehicles made in the Midlands and advanced by the latest technologies developed in Wales.
“This is so we can look ahead to a more prosperous, greener future.”
Source: Read Full Article