Currys calls for VAT cut on refurbished gadgets to reduce waste

Alex Baldock, the CEO of Currys, has called for a reduction or elimination of VAT on refurbished electrical products to prevent them from ending up in landfills. This appeal comes amid a growing market for secondhand electronics, driven by the cost of living crisis and increased environmental awareness. In 2022, the UK was reported to produce the second highest amount of e-waste per capita globally, with only 17% of unwanted gadgets being recycled. The situation is exacerbated by the fact that nearly 500 million small electrical items were discarded in the UK last year. Currys is actively working to promote repair and resale of gadgets, utilizing innovative methods such as video calls to assist customers with basic issues that can often be resolved without professional help. Research indicates that a significant percentage of returned devices, such as laptops and TVs, are functioning properly, suggesting that many products are unnecessarily discarded. This approach not only helps reduce waste but also addresses the financial burden of recycling. The company is also preparing for potential changes in government policy regarding the extended producer responsibility (EPR) scheme, which may require retailers to bear the full cost of recycling defunct gadgets. Baldock expresses hope that the new government will adopt a more favorable stance towards EPR, emphasizing that the current recycling costs could deter retailers from engaging in sustainable practices. Overall, Baldock's advocacy for a VAT cut on refurbished products aligns with broader efforts to mitigate e-waste and promote a circular economy, ultimately aiming to lessen the environmental impact of electronic waste.