Boss Calls for Tax Cut on Reused Tech to Save Landfills
- Currys CEO calls for VAT reduction on refurbished electrical products
- 70% of returned laptops have no fault, often software-based issues
- 30-40% of returned TVs are in full working order
- Video call support for fixing devices
- Currys aims to reduce 8.1m defunct items sent for recycling to external partner Environcom
Currys CEO Alex Baldock has urged the government to eliminate or significantly reduce Value Added Tax (VAT) on refurbished electrical products to prevent them from ending up in landfills. The retailer is currently experimenting with video call support for fixing devices and has found that many returned items are still functional. By making repairs and resales easier, Currys aims to decrease the 8.1 million used electronics sent to recycling partner Environcom. Baldock also hopes for a change in the Extended Producer Responsibility for Packaging (EPR) scheme starting in 2026.
Image Credits: no
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Currys’ CEO calling for a reduction in VAT on refurbished electrical products and their efforts to reduce waste by repairing and reselling items. It also mentions the upcoming Extended Producer Responsibility for Packaging scheme. However, it could be more concise and avoids personal opinions or sensationalism.
Noise Level: 3
Noise Justification: The article provides relevant information about Currys’ efforts to reduce electronic waste and calls for government action on VAT reduction for refurbished products. It also mentions the CEO’s stance on Extended Producer Responsibility for Packaging (EPR) scheme. However, it could benefit from more in-depth analysis of the broader implications and potential consequences of these policies.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets and companies impacted include the electronics industry and recycling businesses.
Financial Rating Justification: This article discusses the CEO of Currys calling for a reduction or cut in VAT on refurbished electrical products, which could potentially affect the sales and operations of electronics retailers and recycling businesses. It also mentions the Extended Producer Responsibility for Packaging scheme that will impact how retailers handle collection and disposal of used goods.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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