Labour Party pledging £6bn a year to help upgrades to energy efficient homes.

If Labour were to win the next election, it would work to retrofit the UK’s inefficient housing stock in order to prepare the country for net zero. This plan would form part of a ‘green new deal’, which would also aim to create thousands of jobs in the construction industry. 

David Adams, spokesperson for the Green Stamp Duty Incentive, said: “I welcome the proposal from Keir Starmer today for a retrofit programme to tackle the climate crisis.

“Emissions from homes have increased over the past six years, with 29 million homes accounting for 20% of UK carbon emissions.

“To meet our ambitious emissions reduction target by 2035, a holistic and long-term home retrofit programme, which provides a verifiable reduction in housing emissions is needed.

“A Green Stamp Duty Land Tax will make energy efficient homes cheaper to buy and, crucially, it does not increase energy bills for homeowners.

“Furthermore, it reminds homebuyers considering a lower-performing home, of the improvements that are likely to be necessary during their tenure.

“It is critical that we find and support new solutions that will help tackle one of the greatest challenges of our lifetime, especially ahead of the upcoming COP26.”

This has been adapted from an article first published in mortgageintroducer.com