The National Home Improvement Council (NHIC) considers the Chancellor of the Exchequer's Budget was a missed opportunity to help get Britain's existing housing stock on track for beating our global warming challenge.

Millions of homes are totally inefficient and unnecessarily "leaking" thousands of tonnes of CO2 each year.

NHIC, Executive Director, Roman Russocki, said: "The Chancellor's Budget provided an ideal opportunity to put in place special fiscal measures targeted at significantly improving the UK's existing housing stock. The Government's own figures show that there are more than five million private sector homes in the UK which are 'non decent' and in desperate need of repair and improvement.

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"But because most of the homeowners who find themselves in this situation are asset rich but cash poor, there is no finance or incentive to help them renovate their properties."

Roman Russocki also points out: "Our housing stock contributes over 30% of the UK’s total annual carbon emissions, so its crucial that home renovation is given urgent attention, even to meet the Government’s own carbon reduction target."

A very large portion of the existing housing stock has been around for 100 years and will need to stand the test of time for another 100 years in order to fulfil the nation's burgeoning demographic demands.

One vitally important aspect of home improvement that needs urgent attention is insulation. It is estimated that 80% of homes are well below par in this respect, yet there are big dividends to be gained from raising insulation levels all round.

Indeed, 40% of the Government’s projected carbon savings from the household sector are expected to come from improved insulation.

(JM)