Rishi Sunak has unveiled plans for £3 billion of funding to support green jobs. The spending will help to boost employment, save money through better efficiencies and cut carbon in order to accelerate Britain towards its net-zero carbon target by 2050.
The summer statement was released on 8th July to help bolster Britain's ailing economy after the Covid-19 lockdown. The Chancellor explained his plans to invest in infrastructure to an unprecedented degree in order to overcome significant economic challenges in the wake of the pandemic.
The green jobs boost confirmed that a concern for the environment lies at the heart of the government's economic plans. This round of financing will include a green homes grant worth £2 billion in total. From September all homeowners - and landlords - will be eligible to apply for green deal vouchers that can make their homes more energy-efficient and create skilled, sustainable energy jobs in the process with local businesses, including apprenticeship roles.
These vouchers will meet two-thirds of the efficiency work costs and be worth up to £5,000 per home. For low-income homes, they will rise to £10,000. A further £1 billion will be on offer to make public sector buildings more energy-efficient, and £50 million will be invested into a pilot fund that will develop an approach to build carbon-free social housing across the UK.
The measures should result in more energy-efficient homes for 640,000 properties, with each family saving £300 a year a result, as well as carbon emission reductions of half a megaton annually and 140,000 new jobs in the green energy sector.