General Election 2019: Labour pledges £60 billion for home energy upgrades

Jeremy Corbyn is proposing to upgrade almost every home in the UK with energy-saving measures to tackle the climate crisis and bring down household bills.

Labour said loft insulation, double glazing and renewable and low carbon technologies in nearly 27 million homes by 2030 would cost the government £60 billion.

The party said its policy, called "Warm Homes for All", would create 450,000 jobs involved in the installation of energy-saving measures and hopes to cut carbon emissions by 10%.

Labour expects the project to cost £250 billion in upgrade works - an average of £9,300 per home.

But the Conservatives said the plan would "wreck the economy" and "put up bills for hardworking families".

Labour are pledging double glazing and renewable and low carbon technologies in nearly 27 million homes by 2030. Credit: PA

The Labour leader said: "If we don't radically change course we face the threat of a hostile and dying planet.

"But Labour will turn that threat into an opportunity.

"By investing on a massive scale, we will usher in a green industrial revolution with good, clean jobs that will transform towns, cities and communities that have been held back and neglected for decades."

Labour expects the initiative would also bring down the energy bills of 9.6 million low income households by £417 per year and eradicate the vast majority of fuel poverty by the mid 2020s.

Low income households would get upgrades funded by grants and keep most of the savings on their bills, with part being used to pay off some of the cost of the work.

Labour said its policy would cost the government £60 billion. Credit: PA

Wealthier homes would be offered interest free loans with no up-front costs, but would see their bills decline more slowly with the regional agencies repaying the loan with the savings.

Shadow business secretary Rebecca Long Bailey said: "Warm homes for all is one of the greatest investment projects since we rebuilt Britain's housing after the Second World War.

"Labour will offer every household in the UK the chance to bring the future into their homes - upgrading the fabric of their homes with insulation and cutting edge heating systems - tackling both climate change and extortionate bills."

The Conservatives criticised the Labour announcement.

"Tackling climate change is vital but independent experts and even Labour's own unions say their promises don't stack up," a spokesman said.

"The reality is that Jeremy Corbyn's plans would wreck the economy, putting up bills for hardworking families - and preventing any real progress on climate change."