£3bn plan to ‘save money, cut carbon, create jobs’

The government has unveiled a package of measures to support the creation of new jobs in the recovery from the Coronavirus, including a £3 billion green investment package for buildings.

Announced as part of Chancellor Rishi Sunak’s Summer Economic Update on 8 July, the plan will see the creation of a £2 billion voucher scheme for improving energy efficiency in homes, and a further £1 billion for upgrading public buildings such as schools and hospitals over the next year.

From September 2020, homeowners and landlords will be able to apply for Green Homes Grant vouchers to invest in energy efficient upgrades such as loft, wall and floor insulation. The grant will cover at least two thirds of the cost, up to £5,000 per household. Grants for low income households will cover the full cost, up to £10,000.

‘Green recovery’

Heating buildings currently accounts for around a fifth of the UK’s greenhouse gas emissions. The government expects the new measures to support the retrofit of over 650,000 homes, create 140,000 green jobs and reduce carbon emissions equivalent to taking 270,000 cars off the road.

Unveiling the plan, the Chancellor said: “This is going to be a green recovery with concern for our environment at its heart.”

‘On the right track’

Amy House, Low Carbon Lead at GC Business Growth, told Business Leader Magazine: “This investment to decarbonise homes will put us on the right track to achieving zero carbon emissions and will unlock wider benefits for the economy.

“Low carbon housing retrofit is one of the biggest challenges Greater Manchester faces in seeking to mitigate climate change and achieve its ambition of being carbon neutral by 2038. The city region has a high number of solid wall pre-1919 terraced properties, which are typically hard to retrofit.

“We are keen for the city region’s SME supply chain to be part of the government’s list of accredited suppliers who will carry out this work and that these opportunities are accessible to our Low Carbon Network members. Businesses can receive support through our dedicated green technologies and services sector support programme to ensure they get a slice of the pie.”

Part 2 of 3

The Chancellor described the Plan for Jobs as the second part of a three-phase plan to secure the UK’s economic recovery from COVID-19, following on from the £160 billion support package announced in March. The third part of the plan focusing on the UK’s infrastructure and ‘rebuilding’ will be announced over the coming months.

 

 

 

 

Posted under General Interest and Environmental Regulations and Legislation on 22 July 2020