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Gordon Brown makes energy efficient homes pledge
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Every household will have been offered the means to improve the energy efficiency of their home by 2017, Gordon Brown announced today.
In his 11th Budget, the Chancellor said that it was the Government's intention that in a decade all homes should have achieved their potential to cut energy wastage to a minimum.
Based on consultations with banks and building societies, he said measures to lower a household's carbon footprint had the potential to create a market for a range of new "green" financial products.
Later this year Energy Performance Certificates will be introduced, giving all homes at the point of sale an efficiency rating and providing householders with clear information and advice on how to improve it.
In addition, the forthcoming Energy White Paper will set out plans to improve information on energy bills and roll out "smart metering" to enhance performance.
Such measures will lay the ground for a range of "green" financial products such as mortgages and loans designed to help people invest in such things as loft installations and solar panels.
Gordon Brown announced that it is the Government's intention to ensure that all householders will have been offered the means to introduce energy efficiency measures, with the aim that all homes will have achieved their cost-effective energy efficiency potential.
The financial services industry reacted warmly to the Chancellor's comments.
A statement from Halifax and Bank of Scotland (HBOS), read: "Green finance is clearly an area where lenders can play an important part. We plan to launch a green mortgage next year."
Likewise a spokesperson from the Abbey said: "We welcome the Government's drive to improve home energy efficiency and believe provision of personal loans specially designed for this purpose will support this positive environmental initiative.
Accordingly, Abbey is intending to launch a range of green loans to support home improvements to enhance home energy ratings. We look forward to announcing full details in due course."
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