UK government launches a new billion-pound home insulation program

UK government launches a new billion-pound home insulation program

Britain’s government will make 1 billion pounds ($1.2 billion) of public funding available for home insulation projects from 2023. This will expand access to assistance, which was earlier available only to poorer households.

The government said the proposed scheme would run from early 2023 until March 2026. It would meet the recent target to reduce energy consumption by 15% by 2030.

Jeremy Hunt (@Jeremy_Hunt), finance minister, said in a statement on Monday, “Our new ECO+ scheme will help hundreds of thousands of people across the UK to better insulate their homes to reduce consumption, with the added benefit of saving families hundreds of pounds each year”.

According to government forecasters, Britain is facing its biggest squeeze on living standards on record now. It is due to a surge in energy costs since the Russia-Ukraine conflict, which increased natural gas prices across European Union.