£300 boiler bonus for homeowners

LONDON: Up to 100 000 homes could benefit from a £300 trade-in of old boilers, a Treasury insider said.

LONDON: Up to 100 000 homes could benefit from a £300 trade-in of old boilers, a Treasury insider said.

The boiler scrappage scheme, which mirrors the car scrappage scheme, will be announced in the pre-Budget report tomorrow.

There are currently 4.2 million Band G gas boilers in the UK. New models cost around £2000 and most people only replace them when their old models fail.

The Chancellor is also expected to point out that £250 a year in energy bills could be saved by trading in old boilers for modern, energy-efficient ones.