£3.4 billion has been committed in this year’s Autumn Budget to further our national aim of decarbonising homes and improving household energy efficiency over the next three years, marking a welcome focus by government to maintain momentum in our drive towards net zero and creating happier, healthier and warmer homes for people.
Commenting on the Autumn Budget announced by Rachel Reeves in front of parliament this week, our managing director Gary Lawson, said: “Net zero and the sustainability agenda was always going to be referenced in some way in the Autumn Budget, with those references often in relation to major plans for infrastructure and renewable energy, but it was particularly pleasing to see further details confirmed for the Labour government’s Warm Homes Plan.
“The Autumn Budget acknowledged the importance of making homes cleaner and cheaper to run, as well as more energy efficient and resilient. To establish lasting change in the fortunes of the UK’s housing stock and communities, an initial £3.4 billion has been allocated to further heat decarbonisation and household energy efficiency over the next three years – with further funding over this period to be considered as part of phase two of the spending review.
“With 350,000 home upgrades planned in 2025 alone, this initial funding allocation includes £1.8 billion dedicated to supporting fuel poverty schemes, helping more than 225,000 households reduce their energy bills by in excess of £200. With an ongoing cost of living crisis, efforts to simultaneously improve sustainability and ensure people can live comfortably are an absolute necessity – and is a clear theme that went through many of Labour’s other announcements in the Budget.
“There are so many worthy investments when it comes to national spending, but the Warm Homes Plan will positively impact thousands of the most vulnerable in society by improving health and wellbeing. We fully support the housing commitments outlined by the treasury and look forward to continuing our close collaboration with the Department for Energy Security and Net Zero – which should be acknowledged for its role in keeping the importance of residential retrofit on the agenda with the same enthusiasm as the growing retrofit supply chain.”
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