Downing Street Says » Green VAT

» Friday, July 20, 2007

Green VAT

Asked for more details on the green VAT, the PMS replied that this was something that we had been pushing for for a while, and we were very glad that we had French support for this. The Prime Minister, when he was Chancellor, and obviously that continues now he is Prime Minister, was always very keen to ensure that there were carrots as well as sticks in terms of incentivising people to behave in an environmentally friendly way. He always felt frustrated as Chancellor that he was not able to introduce more tax incentives to encourage environmentally friendly measures. One of the reasons for that was because we were constrained under EU law by the range of products on which lower rates of VAT can apply. We were calling for, and we were very pleased that the French were supporting us on this, the list of products that are eligible for lower rates of VAT to be extended to include environmentally friendly products.

Asked if we were talking about lower rates or zero rates, the PMS replied that it could include either, but in principle we were talking lower rates.

Asked if this would apply to roof insulation and other similar products, the PMS replied that it could be roof insulation, or it could be more environmentally friendly electrical goods. There was a whole range of potential products that it could apply to, but this would be part of detailed discussions that would need to follow. On specifics it was best to check with the Treasury

Asked where we were in terms of getting other EU countries involved, the PM replied that we had made a big step forward today in signing up the French.

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Green VAT

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