Autumn budget

2024 Autumn budget: IET comments to HM Treasury consultation on 10 September 2024.

The IET has responded to HM Treasury’s callout for input to the 2024 Autumn budget and spending review.

The IET used this opportunity to express the importance of decarbonising Britain’s homes through deep retrofit, and the how utilising digital opportunities in areas such as digital twins can help meet the net-zero targets set out by the government. Underpinning these positions was a call for the government to support upskilling, reskilling and training new engineers to plug the net-zero skills gap.

The IET autumn budget submission recommends that:

• Deep retrofit of housing should be a priority for existing stock and not be considered purely from an energy efficiency and carbon emissions standpoint but should be fully integrated into the plans for a thriving and resilient economy that meets the current and future needs of citizens.
• Support the upskilling, reskilling and training of new engineers to plug the net zero skills gap and deliver the workforce needed to retrofit the UK housing stock.
• There should be a long-term budget similar to that promised for R&D, as well as a breakdown of projections for private investment leveraged through GB Energy for the Warm Homes Plan.
• Digital twins should be a key component of the Government’s pledge to build 1.5 million homes over the next 5 years to support planning, resilience, decarbonisation and growth.