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Invest in energy efficiency and kick-start the economy

An influential report published today shows that investing in improving the energy efficiency of our homes is the best way to create jobs, stimulate the economy and tackle fuel poverty. The Consumer Focus report – ‘Jobs, growth and warmer homes’ – compared the economic benefits of energy efficiency investment with a wide range of other Government spending options.

It concludes that investing the money received from carbon taxes in a major retrofit programme would generate more growth and jobs than alternative Government infrastructure investment, cuts to fuel duty or VAT. It could create up to 130,000 jobs, give a significant short-term boost to GDP and lift 9 out of 10 households out of fuel poverty. Jenny Holland, Head of ACE’s Parliamentary Team, said:

“These findings confirm what we have always believed: that investing in energy efficiency is not only good for the environment and hard-pressed households, but it’s also the right way to kick-start our economic recovery.”

“That’s why we are key players in the Energy Bill Revolution campaign, which is calling for the revenues Government gets from carbon taxes to be used to transform the energy efficiency of the UK’s housing stock. With fuel bills rocketing, nearly 9 in 10 households will ration their fuel use this winter to save money. Meanwhile funding to help fuel poor households is being slashed by almost a third – with spending on energy efficiency cut by over half in the 3 years to 2013. That’s why we urgently need an Energy Bill Revolution.”

“Let’s hope the Treasury will take a long, hard look at today’s report and see the light. Quite apart from the environmental and social benefits of energy efficiency investment, it simply makes perfect economic sense.”

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