Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential net economic benefits of long-term investment in energy efficiency programmes.

Maximising the potential economic benefits of long-term investment in energy efficiency programmes is a central component of the Government’s approach to making our building stock greener on the path to Net Zero. The Clean Growth Strategy set our aspiration to raise the energy efficiency of all homes to EPC Band C by 2035 where practical, cost-effective and affordable. These ratings make a real difference to people's lives. A dwelling with an EPC of Band A/B will have an average dual fuel cost of £396 per year. For a Band G dwelling this is £2,988, a difference of 650%.

Since June, we have provided £1.5bn to support low income households across the country to improve their energy efficiency while also expanding the Energy Company Obligation to £1bn per year. Together, this is estimated to support over 25,000 jobs and save households an average of £350-450 per year on their energy bills.

The upcoming Heat and Buildings Strategy will set out further detail on the Government’s plans to maximise the potential economic benefits of improving energy efficiency.