UK pre-budget report: £400m in new green funding

The British government outlined £400m (€440m) of planned additional spending on green initiatives in its pre-budget report on Wednesday. This follows the allocation in April of £1.4bn (€1.6bn) for low-carbon initiatives over the next three years.

The Labour government says it will spend £200m (€220m) on upgrading inefficient boilers and improving insulation in up to 125,000 households. A further £120m (€132m) will be spent on low-carbon industries, including new manufacturing and testing facilities for offshore wind, and €100m will be invested in the European Investment Bank’s Marguerite fund for green infrastructure.

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