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Low Carbon Loans

Volume 496: debated on Thursday 16 July 2009

To ask the Secretary of State for Energy and Climate Change how much new funding for low-carbon loans announced in Budget 2009 will be provided through the Carbon Trust in (a) 2009-10, (b) 2010-11 and (c) subsequent years. (285097)

Budget 2009 announced £100 million for loans to help small and medium sized businesses install energy saving measure. Of this, up to £83.9 million is available in England through the Carbon Trust. This comprises up to £67.1 million in 2009-10 and up to £16.8 million in 2010-11. This funding operates for two financial years only. The trust’s existing loan scheme will continue to provide funding for loans in future years.

Budget 2009 also provided £65 million for loans to install energy efficiency measures in public sector organisations. Of this, up to £54.5 million is available in England in 2009-10 through Salix Finance, a subsidiary of the Carbon Trust.

For both schemes the remainder of the funds announced goes to the devolved Administrations.