The Chancellor of the Exchequer, Rishi Sunak, is tomorrow set to announced grants worth £5000 to homeowners to help with green upgrades to slash energy bills and increase efficiency.
This is part of a green investment totalling £3 billion to support a eco-friendly economic recovery following the coronavirus pandemic, pumping money into upgrades to homes, public sector buildings and social housing.
£2 billion in grants, worth up to £5000 per household and £10000 for low-income households, to improve energy efficiency such as through replacing old boilers and installing insulation.
£1 billion will be granted to public sector buildings – from schools to hospitals – for green upgrades and £50 million to support innovative projects that will transform social housing.
The funding is there to not only decarbonise buildings, but help the UK reach its goal to meet Net Zero carbon emissions by 2050, which was enshrined in law just over a year ago.
Tomorrow, the Chancellor is expected to unveil a cash injection worth £200 billion to help the economy recover from the pandemic. From conservation schemes to changes to stamp duty, a range of funding boosts announcements are anticipated.
Local MP, Caroline Dinenage, commented:
“As we have seen our communities hit by coronavirus, I know that many of my constituents are concerned about our financial future.
“This green investment is a great step forward, not only supporting local residents through slashing energy bills and increasing efficiency, but helping create green jobs and a sustainable economic recovery.
“I am looking forward to seeing further announcements tomorrow and what real benefits this will bring.”
