Economists predict that if heavy investment in home energy efficiency programmes is conducted by the government, this will assist in tackling climate change and up to 9,000 jobs could be generated.
According to researchers, increased spending in the housing market will ultimately boost economic activity in Scotland and aid in reducing fuel poverty. The economists have requested that the government create a national infrastructure programme to get the ball rolling, with promises of increased economic growth.
The Scottish government has recently announced that 40% of Scottish homes are now in the top three energy efficiency ratings.
The Economists who researched the theory, home to the University of Strathclyde and the London School of Economics are encouraging the Scottish Government to “transform” Scotland’s housing market with a boost of energy efficient homes.
"Our own research shows that energy efficiency improvements free up disposable income for low-income households to better heat their homes or to spend on other things.” Said Prof Karen Turner, director of the Centre for Energy Policy at the University of Strathclyde.
"With the UK economy still reeling in shock from the EU referendum, energy efficiency investment is a direct shot in the arm, delivering a relatively rapid economic stimulus."
According to the Scottish Housing Minister, Kevin Stewart: “We have allocated almost £650m since 2009 and, as announced in programme for government, we will make a further half a billion pounds available over the next four years, meaning over £1bn will have been committed by 2021 to tackling fuel poverty and improving energy efficiency.”
"As a result of our record investment since 2009, two fifths of Scottish homes are now in the top three energy efficiency ratings - an increase of 71% since 2010."
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