RISHI Sunak is set to scrap VAT on home insulation to drive down bills, sources tell The Sun.
The cost of going green and making homes more energy efficient is in line for a win at today’s mini-budget.
The price of wall, floor or loft installation will be slashed in a fresh bid to encourage people to upgrade their homes to stop heat escaping.
More than 19 million homes are rated band D or below for energy efficiency, meaning their leaky properties don’t hold heat well enough and people are forced to whack up their heating for longer.
Some four million properties are in need of cavity wall insulation and 5.5million need it in their lofts, according to research from the Conservative Environment Network.
The Sun revealed a string of MPs including former Cabinet ministers Robert Jenrick and Steven Crabb called for a VAT cut last week – lobbying the Chancellor for extra help.
And Mr Sunak is today expected to heed their demands, The Sun understands.
The move is likely to save people wanting to make their home warmer hundreds of pounds.
Cavity wall insulation could see nearly £200 saved, and loft insulation around £150 saved, according to number crunching from CEN.
The two measures could shave up to £500 off bills over two years.
Yesterday Money Saving Expert, Martin Lewis, predicted that the energy price cap would likely rise to £2,500 later this year – and the Chancellor must step in to help them.
He told MPs that people will feel a “fiscal punch in the face” when bills soar on April 1, and called for a vulnerable persons price cap to protect the poorest Brits from steep rises they can’t afford.
