Industry ‘Welcomes’ £6b for Energy Efficiency Measures


Industry bosses have welcomed sizeable Government investment in energy-efficiency measures in the Autumn Statement – and championed plans for a ‘Retrofit Taskforce’ to tackle insulation and heating issues. 

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by Rory ButlerNovember 17, 2022

Mace Group Chairman and CEO, Mark Reynolds is among top construction executives in the sector who today came out in support of Chancellor Jeremy Hunt’s pledge of £6 billion to ‘retrofit’ Britain’s housing stock.  

In his Autumn Statement, Mr Hunt also revealed a taskforce will drive a plan to insulate homes and upgrade heating systems, with extra funding planned between 2025 and 2028. 

The Chancellor vowed £6.6 billion on energy efficiency during this parliament, pledging a further £6 billion from 2025.  

He added energy efficiency will prevent the UK being at the mercy of global gas prices. “Over the long term, there is only one way to stop ourselves being at the mercy of international gas prices: energy independence combined with energy efficiency,” he said. 

And while built environment firms await precise details on how the billions will be spent, including on skills, many have said the investment is a step in the right direction. 

Mr Hunt has announced tens of billions in tax rises and spending cuts as part of his Autumn Statement. He acknowledged the UK is in recession, but that his spending plan would help rebuild the economy and cut debt.  

“We welcome the Chancellor’s commitment to invest billions of pounds to support people to retrofit their homes over the coming years,” said Mr Reynolds, also Co-Chairman of the Construction Leadership Council 

“Delivering retrofit at scale is absolutely vital and the only route to a sustainable built environment and domestic energy security. 

“This important decision comes after our calls for a national retrofit strategy to upgrade the UK’s 28 million houses, and we are pleased to see a number of the Construction Leadership Council’s asks taken up by the Government, including a ‘Retrofit Taskforce’.” 

HS2 will be delivered in full and the Sizewell C nuclear plant will also go ahead, the chancellor also said.

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