18 December 2006
The chancellor has issued his strongest hint yet at a low-rate personal loan designed to help environmentally conscious consumers to make their home greener.
As part of Gordon Brown's pre-Budget report delivered last week, he stated: "For existing homes I will consult on a new facility to undertake energy audits and offer low loans that will, in time, because of low energy bills, pay for themselves."
The Centre for Alternative Technology (Cat) has today welcomed the potential move, as it would help to reduce the 27% of UK carbon dioxide emissions that come from the construction, heating and powering of homes.
CAT's energy consultant, Matthew Slack, also praised the initiative that would see zero carbon homes exempt from stamp duty, but stressed that new homes are only a tiny part of the picture.
"We need to retrofit old properties with insulation, solar water heating and efficient boilers. Cost can be a barrier when it comes to taking up energy-saving technologies. Low cost or interest free loans would provide the incentive needed," he commented.
Mr Slack also believed that a loan scheme would provide the confidence needed to encourage new companies to develop technologies that give people financial and carbon savings within a set period.
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