This archive report was first published on 8 July 2020.
On July 8, 2020, Britain's finance minister Rishi Sunak is set to unveil a post-coronavirus recovery plan, which includes £3 billion in green investment and £2 billion in grants for households to insulate homes.
The plan, part of Britain's long-term pledge to reduce carbon emissions to net zero by 2050, aims to support and protect livelihoods across the nation.
As part of the plan, Sunak will offer £2 billion in grants for households to insulate homes and make them more energy efficient, with a further £1 billion provided for public sector buildings, including hospitals.
The plan is also expected to include measures to reduce stamp duty, which is levied on real estate transactions, to boost the property market.
However, Sunak is not expected to alter Britain's emergency jobs retention plan, or furloughing, under which the government pays up to 80 percent of salaries for private sector workers.
"As Britain recovers from the outbreak, it's vital we do everything in our power to support and protect livelihoods across the nation," Sunak said on Tuesday.
"Our green homes grant will not only cut families' bills by making their homes more energy efficient, it will also kickstart our economy by creating thousands of green jobs -- and supporting those skilled tradespeople who are ready to work," he added.
