Chancellor unveils £2bn home insulation scheme

Thousands of homeowners across the UK are set to receive vouchers of up to £5,000 for energy-saving home improvements as part of Chancellor Rishi Sunak’s proposed £2bn grant scheme in England.

The scheme will be used for projects such as home insulation as part of a wider £3bn plan to cut emissions.

The Chancellor also revealed that the poorest homeowners could receive up to £10,000 as part of the plans. He also said that the grants could create more than 100,000 jobs across the country.

As part of the scheme – the Green Homes Grant – the government will pay at least two-thirds of the cost of home improvements that save energy. For example, a homeowner could install cavity wall and floor insulation and save thousands of pounds.

Perhaps the biggest topic of discussions for those within the industry, was the announcement from The Treasury that the scheme is scheduled to launch in September this year. Many leading figures within the home improvement sector are concerned at the immediate impact on orders being cancelled or delayed until the September launch date.

The way in which the scheme is set to work is through an online application which would provide recommended energy efficiency measures and the details of accredited local suppliers across the country. After the work is approved with a price, a voucher for the homeowner is provided.

Speaking to the BBC, Business Secretary Alok Sharma said: “What the scheme ultimately means is lower bills for households, hundreds of pounds off energy bills every year, it’s supporting jobs and is very good news for the environment.

“As Britain recovers from the outbreak, it’s vital we do everything in our power to support and protect livelihoods across the nation.”