GBRC

I’m feeling quite positive about the coalition and what it could mean for greener homes in the UK.  During the fraught talks on those crucial days post-election as the new coalition was formed, the Conservatives and Liberal Democrats had plenty of big issues that they disagreed on, not least of all nuclear power.  Despite this, there does seem to be an element of consensus on environmental issues between the parties and they have agreed on policies around a smart grid, renewable energy, electric cars, dropping the third runway at Heathrow and a Green Investment Bank.

This week the Chancellor published the Budget for 2010 which received some pretty mixed reactions. In terms of the green measures, there were a range of announcements including support for the renewables industry, both small and large, some extra cash to help low carbon businesses and green manufacturers, plus some boosts to promote energy efficiency.

For me, the most interesting announcements were around a so-called ‘Green Investment Bank’.  Here at UK-GBC we were very encouraged to hear Government restate their commitment to creating a £2billion Green Investment Bank with a mandate to invest in low-carbon infrastructure.  Essentially Government is proposing that they will invest £1billion themselves which will be matched by the private sector; together the cash will be used to invest in major low-carbon infrastructure projects, particularly in the transport and large renewable energy sectors and should – crucially – be used to leverage further private sector money on a much larger scale. Leveraging capital for hugely complex low-carbon infrastructure is crucial for the renewable future of the UK but we believe the GIB has the potential to bring about a low carbon revolution for homeowners as well.