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Budget 2013: Deloitte comments on real estate sustainability measures

21 March 2013

Jon Lovell, director in sustainably in Deloitte Real Estate comments on the sustainability measures in today’s Budget: “From a green economy perspective, there were some positive, but largely isolated, announcements in today’s Budget. Of particular note was confirmation of the Government’s continued commitment to zero carbon homes from 2016, coming at a time when doubt within industry over the future of that policy was beginning to grow.

“Overall though, there will be concern that an opportunity has been missed to strengthen the resilience of the UK economy to growing resource and climate pressures. It is notable that the Office for Budget Responsibility forecasts point to a disconnect between revenues collected by the Exchequer from environmental taxes, and expenditure on environmental goods and services. Indeed, announcements today on investment into environmental sectors were few and far between, whilst fossil fuel based technologies and sectors received a number of breaks and incentives. That said, environmental taxes overall are set to increase year on year in line with the Coalition commitment, which further amplifies the need for businesses to drive efficiency and resource productivity into their operations and investments.”

Ends

Notes to editors

About Deloitte Real Estate: Deloitte Real Estate redefines the concept of a full-service real estate business, offering a breadth of capability and an innovative approach unequalled in the market.
Our team combines traditional property services with financial and business advisory expertise to deliver integrated solutions on the most simple assignment to the most complex.  We apply a depth of insight drawn from our understanding of all industries and sectors to advise occupiers, lenders, investors and the public sector on every aspect of real estate in an increasingly complex world.

In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities.

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The information contained in this press release is correct at the time of going to press.

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