Redirect savings for a green recovery
Your editorial about the looming energy cost crisis (20 April) is correct to put centre stage a massive home energy efficiency programme to both cut bills and contribute to our net zero obligations.
Labour’s proposal of £6bn a year for this over the next decade is a useful beginning, but much bigger sums will be required. A nationwide energy efficiency programme could easily be funded by the redirecting of savings through for example green recovery bond Isas. The Office for National Statistics has estimated that there are £1,933bn of net savings in the UK in addition to pension wealth of £6,445bn. Some of this could be leveraged to raise the tens of billions of pounds needed to make all the UK’s 30m homes energy efficient, creating in the process jobs in every constituency.Colin HinesConvener, UK Green New Deal Group
Read more on theguardian.com
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