Billions more needed to insulate homes and cut bills, Jeremy Hunt told

Jeremy Hunt has been told that the government will miss its new target to cut energy use by 15 per cent by 2030 without billions more money.

The chancellor announced the target in his autumn statement and has committed £13 billion in funding through to 2028. It includes £1 billion over the next three years to insulate the homes of people who are “able to pay”.

However, The Times has been told that Grant Shapps, the business secretary, believes the target will not be “achievable” without a lot more money. Bloomberg reported a government source saying: “We’re going to need tens of billions of pounds more in capital funding to hit the target. It’s a long way off.”

Grant Shapps, the business secretary, believes the target to cut energy use will not be “achievable” without a lot more money

AARON CHOWN/PA