When Chancellor Alistair Darling stands up in Westminster to deliver his pre budget report, he is expected to adopt two proposals that Teign MP Richard Younger-Ross has been campaigning for over the past few months – a tax on bankers’ bonuses and the Government’s adoption of a boiler scrappage scheme.
The Chancellor is proposing a 75 per cent tax on bankers’ bonuses, in line with Richard’s proposals – although the MP believes Mr Darling is over complicating the way this could be achieved. For it to work, Richard suggests capping bankers’ pay rises and he believes 5 per cent would be more than generous.
On Reheat Britain’s boiler scrappage scheme, Richard told the Devon Week: “According to the Energy Saving Trust, if everyone with gas central heating installed a high efficiency condensing boiler, it would save enough to heat 3.4 million homes for a whole year and save around 13 million tonnes of carbon dioxide.
“The early day motion I tabled is attracting good cross party support. This is a great scheme which benefits households, the environment and the economy. Households will be able to save more than £200 a year on gas bills, the environment will benefit by the saving of millions of tonnes of carbon dioxide emissions and it will give a boost to the economy by supporting existing jobs and creating new ones. There are 120,000 registered Gas Safe plumbers end engineers in the UK, many of them sole traders or small businesses. This would give them a real boost at a time when order books are light.”
(Press release from Richard Younger-Ross’s office)