Encouraging Green Investment
in our Home Heating
My response to the Campaign for Greener Heating
28 October 2021
Following the Chancellor's Budget 2021
Thank you for contacting me about green infrastructure investment in heating homes across the country.
Our climate is not replaceable.
The risks to us all will be larger around the world if there is too much delay and too little action by us and by others.
Massive change is coming as our lives and economies adjust to decarbonising the economy.
Change will have to be made not only internationally and at a national level, but locally and on a house-by-house basis.
Caroline Lucas MP, I and others ask the Bank of England and government to unleash green investment, monitoring financial institutions in support of the fair green transformation.
Government is serious about transition to net zero and our greener future.
Through the 2021 Spending Review, the Government has committed to increasing the funding for development priorities including climate finance, nature and biodiversity and green growth.
The 2021 Budget and Spending Review confirmed that since March 2021, the government will have
committed a total of £30 billion of public investment for the green industrial revolution in the UK.
This fully supports the delivery of priorities outlined in the Ten Point Plan, including driving the
growth of low carbon hydrogen and the creation of around 440,000 green jobs through government
and private sector investment.
You will know of the encouragement to consumers for install low-carbon alternatives at home.
The new £450 million three-year Boiler Upgrade Scheme will offer households £5,000 for low-carbon heating systems, such as heat pumps. This scheme is scheduled to open in April 2022.
We know the UK was the first G7 economy to legislate to achieve net zero emissions.
Welcome the huge investments being delivered to make this a reality.
We can recognise many of the Government's actions as we continue to urge more to done in time to be effective.
Thank you once again for taking the time to contact me on this important subject.