An investment of just £625 million per year in home improvement initiatives could result in the creation of 100,000 new jobs, while simultaneously injecting a remarkable £10 billion boost into the UK economy.
That’s according to a new study by think tanks Demos and the Centre for Ageing Better which suggest allocating £625 million annually towards enhancing safety, accessibility and heating could yield a 16-fold return for the government.
The establishment of a loan guarantee scheme aimed at supporting home improvement measures, including energy efficiency could pave the way for transformative change, according to the report.
The think tanks have stressed the pressing reality that nearly 3.5 million homes across England pose grave health risks to their inhabitants.
Carole Easton, Chief Executive of the Centre for Ageing Better, said: “Homes which fail to keep people safe and warm are contributing to the deaths of thousands of people every year. Many homeowners cannot afford the relatively small costs needed to substantially improve them.”
