Chancellor set to pledge £60m to plant trees in The Budget

With The Budget 2018 set to be announced later today, there has been a pre-release statement with some substantial environmental and horticulture news. Hammond is set to announce a pledge of £60 million to plant roughly 10 million trees across Britain, which in turn will potentially boost housing prices.

The pledge will be launched in hopes to increase the amount of greenery on residential streets in Britain. The launch hopes to appease environmental enthusiasts who would argue the Government has not put in enough effort towards their environmental plan in recent years.

The £60 million is split into two pots, firstly, £10 million for residential and urban areas, in order to create more green spaces. 

Secondly, £50 million to be set up as carbon credit for landowners who plant qualifying woodland. This will entice landowners to plant more trees with the opportunity to gain some extra cash too. This scheme is set to increase the number of trees planted to an extra 10 million trees over the next 30 years or so.

This will be the start of the Government’s 25 Year Environment Plan which launches at the start of next year.