The Property NomadsBoiler Tax to be scrapped - but should not have been implemented in the first place
Rob discusses the impact of government policies on the cost of boilers and heat pumps for homeowners, landlords, and tenants. The government's Clean Heat Market Mechanism, aimed at promoting heat pumps and reducing carbon emissions, has led to fines for boiler manufacturers if heat pump installation targets are not met. In response, boiler companies have increased their prices, passing on the cost to consumers. The episode highlights the disconnect between what the government wants and what people actually need, ultimately resulting in increased expenses for everyone involved.
KEY TAKEAWAYS
- The government announced plans to introduce penalties for missed heat pump installation targets, leading to a price hike in gas boilers by manufacturers.
- The price increase in boilers ultimately affects consumers, including landlords and homeowners, who may face higher costs for new installations.
- The government's push for heat pumps under the guise of net zero and carbon emissions has led to backlash and criticism from individuals like Andrea Jenkins, a Conservative MP.
- The government's interference in the market has resulted in increased costs for consumers and landlords, potentially leading to rent hikes and financial burdens for working people.
BEST MOMENTS
"Boiler manufacturers have been hiking prices of gas boilers because the government announced penalties for missed heat pump installation targets."
"Government want one thing, and they're telling you they want one thing. But when you get boots on the ground, what people want and what the government say you want are two different things."
"This has all come from government getting in the way of itself for no reason. People wouldn't be having these increases in the cost of paying for boilers if this clean heat market mechanism hadn't possibly been introduced."
"The government are trying to tell people that they want one thing, and what people actually want are two different things."
VALUABLE RESOURCES
https://www.gbnews.com/money/boiler-tax-heat-pump-installation-penalty
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ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
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