The Government’s energy efficiency loan scheme had an ‘abysmal’ take-up rate because it had not been tested with consumers, according to MPs.
In a highly critical report, the Public Accounts Committee said projections for the scheme were ‘wildly optimistic’.
The so-called Green Deal ended last year after providing just £50 million in 14,000 loans to households to boost energy efficiency. That was substantially less than the £1.1 billion predicted by the Government. Each loan cost taxpayers £17,000. Housing House prices increased by 1.1 per cent in May, with the typical home jumping in value by £2,400 over the month.
The Office for National Statistics figures were taken before the Brexit vote, and based on mortgage completions, so are regarded as a lagging indicator for the economy.
Andrew Bridges, managing director of estate agents Stirling Ackroyd, said: ‘Since these figures are for May it’s likely that house prices have already fallen to some extent in parts of the country.
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