A multi-billion pound fund to ‘green’ more than 4m small businesses is being considered by the government.

Business will be able to apply for loans to replace old boilers and other pieces of high energy use equipment. The money will be repaid from the savings they will make on energy bills.

Banks and energy companies are being consulted over financing and implementing the scheme, which is expected to be announced in the Queen’s Speech in November, reports the Daily Telegraph.