In his Summer economic update's ‘Plan for Jobs 2020,’ the Chancellor announced funding for new green initiatives aimed at creating jobs, helping those on low incomes and assisting the UK to meet its target of net-zero greenhouse gas emissions by 2050.
The measures are part of the package of ongoing support from the government during the global COVID-19 pandemic and include:
- £2bn in green home grants under a voucher scheme to make private homes more energy-efficient.
- Providing at least £2 for every £1 that homeowners and landlords spend to make their homes more energy-efficient, up to £5,000 per household.
- For those on the lowest incomes, the scheme will fully fund energy efficiency measures of up to £10,000 per household.
- £1bn to improve the energy efficiency of public buildings including schools and hospitals.
- £50 million on measures to de-carbonise social housing.
- Up to £40 million in a Green Jobs Challenge Fund for environmental charities and public authorities to create and protect 5,000 jobs. The jobs will include planting trees, restoring habitats, clearing waterways and creating green space for people and wildlife.
- £10 million under the 2019 Automotive Transformation Fund for the first wave of R&D projects to scale up manufacturing of the latest technology in batteries, motors, electronics and fuel cells.
Links
Summer Economic Update: At glance
Chancellor of the Exchequer, Rishi Sunak, made his update on Wednesday 8 July 2020. We outline his new measures designed to assist in reviving jobs and the economy following the outbreak of the Coronavirus.
COVID-19: Construction Industry Scheme VAT delay
HMRC have announced a delay to the introduction of the domestic reverse charge for construction services until 1 March 2021 due to the impact of the Coronavirus on the construction sector.
COVID-19: Government support tracker
This tracker covers measures announced by the government to support individuals and businesses, as we get through COVID-19.
COVID-19: Coronavirus Job Retention Scheme
Coronavirus Job Retention Scheme: a cash grant that is designed to allow employers to retain staff who would otherwise be laid off.
CIS: Contractors and Subcontractors
The Construction Industry Scheme (CIS) is a scheme created by HMRC for contractors and subcontractors, designed to minimise tax evasion within the construction industry.
External link
A Plan for Jobs 2020: Policy paper