Mr Sunak’s announced in his Spring Statement that he will be cutting VAT to 0% on retrofitted carbon saving measures to our homes.

This is helpful news and should encourage more to look at improving their own home. I did my own home several years ago – paying full VAT! – and the additional external wall insulation has made a noticeable difference. It can certainly be money well spent, especially with the high fuel process unlikely to drop anytime soon.

In the UK we have an existing housing stock of some 26 million homes, most of which would benefit from some retrofitting. One study suggests that buildings across Europe and the US account for 30-40% of the energy consumed and 20-36% of energy related greenhouse gas emissions. These are significant figures.

Whenever you are considering any improvement or facing a repair to your home, stop and think whether there is an opportunity to improve the energy efficiency. Improving the efficiency could be done bit by bit, rather than one large and expensive complete overhaul.

As managing agents of a large number of the rural period properties, we have a lot of work ahead of us, given the aim is to get Energy Performance Certificate ratings up to a C, or perhaps even a B, by 2030. Many houses are currently struggling to get to the required E without significant investment. Zero VAT will be a help.

Richard Banks