Realising that environmental issues are the big draw this general election season, Labour announces its pricey Warm Homes for All scheme.
The plan will see almost all of the UK's 27 million homes overhauled to install double glazing, loft insulation, new heating systems, and other renewable tech features for the low, low price of £250bn, which is around £9,300 per residence. Speaking about the policy over the weekend, Jeremy Corbyn said the scheme will "create a sustainable energy network," adding that "we cannot go on standing by while climate warming increases." £60bn of the estimated cost will come from the government, while the rest of the cost covered through interest-free loans that would be repaid.
Low-income households can apply for a grant, while wealthier homes would go down the interest-free loan route. The cost for the work would be recuperated via savings, while those same savings would go towards paying off the loans in the latter scenario. The loans themselves would be affiliated with the house, rather than individuals. Labour says the plan will create 450,000 jobs over the next 10 years, while carbon emissions would be reduced by 10 per cent.
The announcement follows the Conservatives' temporary halt on fracking, which Corbyn called "an election stunt." The Conservatives decided to return the favour by chiming in on Jeremy's plans, saying Warm Homes for All will actually "wreck the economy" and "put up bills".
The hope is that the "massive" investment will "usher in a green industrial revolution with good, clean jobs that will transform towns, cities and communities that have been held back and neglected for decades," says Corbyn.
“At this election, the choice is clear – we can either take action to protect future generations, or allow the Tories to help fuel our planet’s destruction.” [BBC News]
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