A trio of new tax measures have been suggested by the CBI to outline how the UK Government can incentivise ‘Green’ investment.
The three tax measures CBI would like to see are:
1. A new Green Innovation Credit for green technologies and processes
2. A lower corporation tax rate for profits derived from green technologies
3. An enhanced green super-deduction rate.
The CBI report recommends that businesses investing in electric vehicles and their batteries should benefit from all three measures. The CBI is pushing for changes that could make going green less of a financial burden for its members and wider supply chains.
The BVRLA has been pushing for the expansion of Full Expensing to rental and leasing, alongside CBI. A Green Super Deduction which works for the sector could be a positive.
The association’s policy team will continue to foster close links with CBI’s policy team on sector-relevant issues, so that the voice of the sector and its role in the wider business landscape is strengthened.
Full details can be found in the CBI report, available to download as a pdf below.
