Housing: Energy

Treasury written question – answered on 6th June 2022.

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Photo of Rachael Maskell Rachael Maskell Shadow Minister (Digital, Culture, Media and Sport)

To ask the Chancellor of the Exchequer, for what reason he has not announced proposals on retrofitting homes to reduce energy use and costs.

Photo of Helen Whately Helen Whately The Exchequer Secretary

At the spending review, the Government committed to invest £3 billion over this Parliament to improve the energy efficiency of up to 500,000 low-income homes, reducing energy bills by hundreds of pounds per year.

We are also expanding the Energy Company Obligation to £1 billion per year from 2022 to 2026, helping 133,000 low-income households annually to also improve their energy efficiency.

At the Spring Statement, the Chancellor announced the removal of the 5 per cent VAT charge on the installation of energy-efficiency materials over the next five years. This represents a £280 million tax cut to support investment in energy efficiency over the next 5 years. This is additional to the total support for households this year of over £37bn.

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