Given that the 2024 UK Budget - this Labour Government's first - was presented on the same day as the catastrophic climate-induced flooding in Spain, one might have hoped for and expected a set of fiscal measures that addressed climate breakdown.
Instead, fuel duty was frozen while bus fares went up, and the only mention of the word green was in relation to so-called ‘green’ hydrogen. In relation to the built environment, ACAN! is dismayed by the backtracking on investment in retrofitting homes. Labour has previously recognised the need for £60bn over 10 years. In their manifesto, this was reduced to a commitment of £13.2bn over five years. It is now a paltry £3.4bn over three years, effectively a fivefold decrease over what is needed. This reduction in essential low-carbon work is particularly galling given the government’s previous announcement of £22bn investment in Carbon Capture Utilisation and Storage (CCUS), a much-criticised and untested technology that effectively sanctions further extraction of fossil fuels.
ACAN! therefore calls for an immediate reconsideration of the Warm Homes budget in the next comprehensive spending review, together with a tightening of low-carbon regulation in the delivery of the promised 1.5m new homes. Retrofitting brings many social and economic benefits (reduction of fuel poverty, local jobs, bringing obsolescent housing stock back into use, and so on) as well as being the only way that the UK can meet its legally binding net-zero pledges.
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