Did anyone consider the consequences when they passed the idiotic net zero climate cult laws, or just say “hey, y’all, watch this”?
London just lost 10,000 offices – and even more will be wiped out
Thousands of offices across Britain have become unlettable after new net zero rules left landlords unable to let them out.
New laws that came into force on April 1 ban landlords from renting offices with an energy efficiency rating of E or below.
The minimum E rating that came into force on Saturday has left around 8pc of offices obsolete, according to BNP Paribas.
That equates to 10,000 office spaces in London alone, the bank says.
Landlords are facing a choice between either doing expensive renovation work to bring buildings up to standard or cutting their losses and trying to sell-up.
It has led to concerns that green targets could trigger a sharp downturn in the office market, mirroring the recent collapse in the rental market triggered by tougher Government rules and higher taxes.
Is anyone in the UK government considering fixing this? Heck no
The Government intends to ratchet up the new Minimum Energy Efficient Standards (MEES) for commercial properties over time as part of efforts to hit national net zero targets.
It plans to introduce a minimum rating of C by 2027 and a B in 2030.
You know that if the landlords make the renovations they will pass on the costs to the tenants, who will pass it on to the consumers. But, hey, I don’t feel too bad for the UK citizens, because they voted for this. They’re getting what they asked for. Suck it up, buttercups.
