Industry leaders have backed the Chancellor in highlighting ‘a clear focus on retrofit’ for the recently established UK Infrastructure bank, saying the government recognises the value of retrofit in cutting the carbon emissions of UK homes.

The comments follow a letter from Rishi Sunak to John Flint, the UKIB’s CEO, outlining government’s priorities for the institution as well as the outcomes from the government’s review of UKIB’s environmental objectives.

Brian Berry, Chief Executive of the Federation of Master Builders said: “The Chancellor’s letter to the UK Infrastructure Bank is a clear signal that the Government recognises the value of retrofit technologies to help decarbonise the UK’s existing housing stock. However, the current focus on heat technology needs to be expanded to include the need to insulate our 29 million homes most of which are leaky and energy inefficient. Wednesday’s Spring Budget is an opportunity for the Chancellor to bring forward clear fiscal measures to support a long term national retrofit strategy which needs to bring together fabric improvements, skills, and heating technology into one package.

“The construction industry has been calling for a national retrofit strategy to incentivise energy efficient upgrades to our existing homes. Future plans to make our homes greener and more energy efficient must be long-term, so that consumers and builders alike have confidence in upgrade schemes. A national retrofit strategy would help lower energy bills for consumers, helping them out during the ongoing cost-of-living crises, and create an economic boost for small builders, stimulating local economies.”

The Chancellor’s letter can be seen in full here:

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