Wednesday 8 September 2021

‘Businesses support tax-based incentives to drive net zero’

Businesses would welcome a tax-based incentive to get them on their net zero journeys.

That is according to a new report from npower Business Solutions, which revealed 75% of businesses do not feel current government incentive schemes do enough to push decarbonisation.

The report reviewed the thoughts of more than 60 businesses, with 83% of these openly supporting the Confederation of British Industry’s (CBI) suggestion of environmental taxes and tax incentives.

The approach also involves encouragement in electric vehicle (EV) investment, energy efficiency improvements and on-site renewable technologies.

Chancellor Rishi Sunak’s announcement of the ‘super deduction’ tax in the Spring Budget is appealing to 66% of businesses. The scheme cuts companies’ tax invoices by 25p for every pound they invest in new equipment and green measures – including low carbon heating, combined heat and power, EV charging and solar photovoltaic (PV).

When asked to the areas they would prioritise for incentives, energy efficiency came top, followed by on-site generation and EVs.