Construction News

25/06/2015

Plans To Privatise Green Investment Bank Criticised

The UK Government plans to privatise the Green Investment Bank (GIB) have been criticised by the Deputy First Minister.

Mr John Swinney is calling on the Government to commit to maintaining a public stake and to ensure it keeps its original purpose as a green bank.

He is also calling for reassurances that the headquarters and jobs are retained in Edinburgh, and that all of the previously announced £3.8bn capital provided to the bank is carried through.

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Mr Swinney said: "Continued investment in tackling climate change and reducing our carbon footprint is essential and I urge the UK Government to provide guarantees on the future of the Green Investment Bank.

"The UK Government must retain a public stake in the bank and the UK Government must also ensure the Green Investment Bank's headquarters and jobs are retained in Edinburgh, as it was specifically chosen to reflect Scotland's position at the vanguard of the renewables sector."

(CD)

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