RICS calls for green focus in Budget

The Royal Institution of Chartered Surveyors has called on the government to focus on the environmental impact of the built environment in the upcoming Budget. Hew Edgar, head of UK government relations and city strategy at RICS, said the organisation wants “clear action to fix the host of challenges facing the built environment”, including mitigating the effects of climate change, building more sustainably and greening the country’s housing stock. The institution has made several recommendations, including “sustained funding and financial incentives” for retrofitting existing buildings and a 5% VAT reduction for sustainable home improvements. Last October, RICS launched its Value the Planet campaign, which promoted the adoption of the UN’s sustainability development goals across the built environment. Other recommendations from RICS include the establishment of a UK infrastructure investment bank that would support and finance domestic projects and act as a replacement for the European Investment Bank’s work in the UK. The Budget is scheduled for 11 March, although the unexpected departure last week of chancellor Sajid Javid during a cabinet reshuffle has thrown its timing into question. In a BBC interview at the weekend, transport secretary Grant Shapps said it would be for Rishi Sunak, Javid’s replacement, to “decide on the date”. To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette