Government to scrap Green Deal Finance Company funding after insulation scheme fails to take off
Government funding for the Green Deal Finance Company has ended due to low take up of the scheme to insulate homes, the department of energy & climate change (DECC) announced yesterday.
The project, which provided loans for householders to use in paying for home insulation, failed to live up to expectations
DECC described the decision as “a move to protect taxpayers”.
Energy and climate change secretary Amber Rudd said: “We are on the side of hardworking families and businesses – which is why we cannot continue to fund the Green Deal.”
She added that the government will “work with the building industry and consumer groups on a new value-for-money approach”.
“It’s now time for the building industry and consumer groups to work with us to make new policy and build a system that works,” said Rudd.
DECC said yesterday that the decision has no impact on existing Green Deal Finance Plans or existing Green Deal Home Improvement Fund applications and vouchers.