Hundreds of thousands of homeowners will receive vouchers of up to £5,000 to be used for energy-saving home improvements, the chancellor, Rich Sunak will announce today.
The chancellor is expected to set out a £2bn grant scheme in England for projects such as insulating houses as part of a wider plan to cut carbon emissions.
The voucher scheme could potentially help support and protect more than 100,000 jobs. The way the vouchers will work is the government will pay at least two-thirds of the cost of any home improvements that save energy. Examples of such work include installing cavity wall and floor insulation for a cost of £5,000 - the homeowner would have to pay only £1,667 while the government would pay the remainder of the bill which would be £3,333.
This scheme is set to launch in September and will allow online applications for recommended energy efficiency measures that will be covered by the vouchers, along with details of any accredited local SME suppliers.Once one of these suppliers has provided a quote and the work is approved, the voucher is issued.