|Barker: No One Has Signed Up For Coalition Green Deal|
The £125 million scheme launched in June 2011 by Climate Change Minister Greg Barker with claims that it would be “the biggest home improvement programme since the Second World War” is now said to be in "lying in tatters" because no one has signed up for it.
The Green Deal is the Government’s flagship policy to make homes more energy efficient and – ultimately - cut energy bills, which have soared in recent years. This week British Gas raised prices for the 10 million homes it supplies, and other large companies have done the same.
Under the Green Deal people can borrow up to £10,000 from a private sector loan provider and have loft and wall insulation fitted in their homes. The loan is repaid over a period of up to 25 years through higher bills. The idea is that bills will fall once the loan has been paid off because the houses need less energy.
Central to the deal is the ‘golden rule’, which states that the expected savings that a homeowner ultimately makes must be equal to or greater than the cost of the work being done.