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The Royal Institute of British Architects (RIBA) has responded to the Government's pre-budget report announcement today.

The following points were of particular interest to the RIBA:

• VAT to return to 17.5 per cent in Jan 2010
• Support for small businesses with an extension of the Time to Pay scheme, continuing to defer corporation tax for SMEs and a new growth capital growth fund
• Establishing Infrastructure UK for investment in low-carbon projects including investing €100 million in a European Investment Bank-led fund to deploy up to €1.5 billion of equity and €5 billion of debt in low-carbon infrastructure
• Rolling out of smart meters and an additional £200million for energy efficiency, including a boiler scrappage scheme and tax free feed-in tariffs
• 10,000 graduate internships for students from poorer backgrounds

Anna Scott-Marshall, Head of Public Affairs at the RIBA said:

"The Chancellor rightly highlighted the low carbon skills as a priority in the week when we are seeking to reach a global deal in Copenhagen. The announcements for the new body Infrastructure UK to co-ordinate and deliver nationally significant infrastructure is a welcome step to improving the delivery of major infrastructure. At a domestic level the roll out of Smart meters which we have called for in our manifesto and the announcement for tax free feed-in tariffs for small scale electricity generation are good ways for home owners to be incentivised to be aware of the carbon consumption and to be able to contribute sustainably to the national grid. But as the Chancellor stated, a quarter of all the country's emissions come from households and whilst improving heating with a boiler scrappage scheme and insulation is welcome we think that a much more ambitious programme of retrofitting existing homes needs to commence if we are to meet our carbon targets."