Speaking at the Spending Review, Chancellor Rachel Reeves said it has “expanded” the Warm Homes Plan to support thousands more of the “UK’s poorest households”.
This includes providing £7m to homes in Bradford, £11m to homes in Rugby and £30m to homes in Blackpool, she said.
Reeves continued: “I can announce that I will deliver in full our manifesto commitment to upgrade millions of homes, saving families and pensioners across the country up to £600 each and every year off their bills.
“I am determined to do everything in my power to put more money in people’s pockets, to give people security and control in their lives, to make working people better off, and to show them that this government, this Labour government, is on their side.”
The Warm Homes Plan was one of Labour’s manifesto commitments, saying at the time that it would offer grants and low-interest loans to “support investment in insulation and other improvements such as solar panels, batteries and low-carbon heating to cut bills”.
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The manifesto had estimated the extra investment at around £6.6bn over the next Parliament, noting that this would upgrade around five million homes.
Looking into Treasury documents, the government said the investment would include around £5bn in financial transactions and that it would be “located across schemes that support the roll-out of heat pumps, alongside energy-efficiency measures and other low-carbon technologies, such as solar and batteries”.
The report added that it would work with the UK’s expert public finance institutions, including the National Wealth Fund, to support the delivery of the Warm Homes Plan, and further details would be confirmed in October.
